Mackenzie Financial Corp Trims Holdings in Prologis, Inc. (NYSE:PLD)

Mackenzie Financial Corp lowered its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 20.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,790 shares of the real estate investment trust's stock after selling 23,782 shares during the period. Mackenzie Financial Corp's holdings in Prologis were worth $9,914,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in shares of Prologis in the fourth quarter valued at $1,778,000. Neo Ivy Capital Management purchased a new position in shares of Prologis in the fourth quarter valued at $1,801,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Prologis by 83.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after purchasing an additional 1,723,129 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in Prologis during the fourth quarter valued at approximately $50,000. Finally, Vise Technologies Inc. purchased a new position in Prologis during the fourth quarter valued at approximately $308,000. Institutional investors own 93.50% of the company's stock.

Prologis Trading Down 0.5%

NYSE:PLD traded down $0.59 during midday trading on Friday, reaching $108.64. 7,261,566 shares of the stock traded hands, compared to its average volume of 4,165,353. The company has a fifty day moving average of $103.94 and a 200 day moving average of $110.56. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a market capitalization of $100.81 billion, a P/E ratio of 27.16, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. On average, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business 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. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.72%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PLD. Morgan Stanley reduced their price objective on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Royal Bank of Canada cut their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Scotiabank boosted their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company cut their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have given 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, Prologis presently has an average rating of "Moderate Buy" and a consensus target price 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.