Jennison Associates LLC Sells 38,441 Shares of Prologis, Inc. (NYSE:PLD)

Jennison Associates LLC trimmed its position in Prologis, Inc. (NYSE:PLD - Free Report) by 3.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,000,892 shares of the real estate investment trust's stock after selling 38,441 shares during the period. Jennison Associates LLC owned about 0.11% of Prologis worth $111,890,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after buying an additional 15,078 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Prologis by 74.8% in the fourth quarter. Proficio Capital Partners LLC now owns 3,277 shares of the real estate investment trust's stock worth $346,000 after buying an additional 1,402 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Prologis by 2.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 274,322 shares of the real estate investment trust's stock valued at $29,025,000 after buying an additional 7,187 shares during the period. Sandy Spring Bank grew its position in Prologis by 5.0% during the fourth quarter. Sandy Spring Bank now owns 21,462 shares of the real estate investment trust's stock worth $2,269,000 after buying an additional 1,019 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Prologis by 781.0% in the 4th quarter. Teacher Retirement System of Texas now owns 54,615 shares of the real estate investment trust's stock valued at $5,773,000 after acquiring an additional 48,416 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Shares of NYSE PLD opened at $106.69 on Friday. The firm's fifty day moving average is $107.49 and its two-hundred day moving average is $109.62. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a market cap of $99.00 billion, a P/E ratio of 28.91, a P/E/G ratio of 2.68 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company 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 posted $1.34 EPS. Prologis's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.79%. Prologis's dividend payout ratio is currently 101.00%.

Analysts Set New Price Targets

PLD has been the topic of a number of research reports. Truist Financial decreased their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Royal Bank Of Canada lowered 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. Mizuho reduced their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Robert W. Baird lowered their price target on shares of 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 given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

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.