Edgestream Partners L.P. Invests $302,000 in Prologis, Inc. (NYSE:PLD)

Edgestream Partners L.P. acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,703 shares of the real estate investment trust's stock, valued at approximately $302,000.

Other large investors have also made changes to their positions in the company. Cohen & Steers Inc. boosted its holdings in Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after purchasing an additional 882,529 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after acquiring an additional 610,251 shares during the period. FMR LLC boosted its holdings in shares of Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after acquiring an additional 334,907 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after acquiring an additional 4,893,284 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Trading Up 1.2%

Shares of Prologis stock traded up $1.32 during trading on Tuesday, hitting $109.18. The stock had a trading volume of 5,199,795 shares, compared to its average volume of 4,216,696. The stock has a 50 day simple moving average of $107.49 and a 200 day simple moving average of $109.68. The company has a market capitalization of $101.31 billion, a PE ratio of 29.59, a P/E/G ratio of 2.69 and a beta of 1.23. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.70%. Prologis's dividend payout ratio is presently 109.49%.

Analyst Ratings Changes

A number of brokerages have issued reports on PLD. Morgan Stanley decreased their target price on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. BMO Capital Markets cut their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Mizuho cut their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Royal Bank Of Canada cut their target price on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.47.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.