Gateway Investment Advisers LLC Has $24.26 Million Holdings in Prologis, Inc. (NYSE:PLD)

Gateway Investment Advisers LLC lessened its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 33.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,999 shares of the real estate investment trust's stock after selling 111,042 shares during the quarter. Gateway Investment Advisers LLC's holdings in Prologis were worth $24,258,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PLD. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis in the 4th quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis in the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter worth $30,000. REAP Financial Group LLC boosted its position in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of Prologis in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley dropped their price objective on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. CJS Securities lowered their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Mizuho cut their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Robert W. Baird decreased their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Truist Financial dropped their target price on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and a consensus target price of $120.42.

Prologis Stock Performance

Shares of PLD opened at $108.91 on Friday. The stock has a market capitalization of $101.06 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The firm has a fifty day simple moving average of $103.68 and a 200 day simple moving average of $110.41. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.71%. Prologis's dividend payout ratio is 101.00%.

Prologis Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.