Lecap Asset Management Ltd. Buys New Shares in Prologis, Inc. (NYSE:PLD)

Lecap Asset Management Ltd. purchased a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,422 shares of the real estate investment trust's stock, valued at approximately $2,954,000. Prologis accounts for 0.7% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 27th biggest position.

Other hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. lifted its position in shares of Prologis by 3.2% during the 4th 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 last quarter. Geode Capital Management LLC raised its stake in Prologis by 2.9% in 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 buying an additional 610,251 shares in the last quarter. FMR LLC lifted its holdings in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Prologis by 2.1% in the 4th 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 last quarter. Finally, Northern Trust Corp increased its holdings in shares of Prologis by 54.6% in the 4th 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 last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

Shares of NYSE PLD opened at $108.20 on Wednesday. The stock has a fifty day moving average price of $106.00 and a 200 day moving average price of $109.66. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market cap of $100.40 billion, a PE ratio of 27.05, a P/E/G ratio of 2.72 and a beta of 1.25.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. CJS Securities decreased their target price on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Royal Bank Of Canada lowered their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Mizuho dropped their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Morgan Stanley reduced their price target on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company dropped their price objective on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given 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 Company 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.

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