Generate Investment Management Ltd Decreases Holdings in Prologis, Inc. (NYSE:PLD)

Generate Investment Management Ltd decreased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 61.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,246 shares of the real estate investment trust's stock after selling 79,028 shares during the quarter. Generate Investment Management Ltd's holdings in Prologis were worth $5,505,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis during the 4th quarter worth approximately $27,000. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% during the 4th 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 during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Prologis during the 4th quarter worth approximately $34,000. Finally, Promus Capital LLC acquired a new position in shares of Prologis during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Trading Up 1.1%

Shares of NYSE PLD traded up $1.19 during trading on Friday, hitting $105.58. 5,732,894 shares of the company traded hands, compared to its average volume of 4,135,040. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a 50-day moving average price of $106.21 and a 200-day moving average price of $109.50. The firm has a market capitalization of $97.97 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. On average, equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.83%. Prologis's dividend payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Truist Financial cut their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. CJS Securities cut their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Barclays cut their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Finally, Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $120.42.

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.