Los Angeles Capital Management LLC Acquires 72,720 Shares of Prologis, Inc. (NYSE:PLD)

Los Angeles Capital Management LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1,572.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,345 shares of the real estate investment trust's stock after purchasing an additional 72,720 shares during the quarter. Los Angeles Capital Management LLC's holdings in Prologis were worth $8,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in Prologis during the 4th quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new position in Prologis during the 4th quarter worth $27,000. REAP Financial Group LLC grew its stake in shares of Prologis by 40.0% in 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. Olde Wealth Management LLC bought a new position in shares of Prologis in the first quarter worth $43,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

PLD has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Barclays cut their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Finally, UBS Group upped their price objective on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two investment 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.74.

Prologis Stock Down 0.0%

Shares of PLD stock traded down $0.05 on Thursday, hitting $109.95. 3,028,883 shares of the stock were exchanged, compared to its average volume of 4,634,197. The company has a current ratio of 0.19, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $102.03 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 2.74 and a beta of 1.23. The business has a 50-day moving average of $107.48 and a 200 day moving average of $109.70. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping 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 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 company posted $1.34 earnings per share. Prologis's revenue was up 8.8% on a year-over-year basis. Equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.67%. Prologis's payout ratio is presently 109.49%.

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.