Mackenzie Financial Corp Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Key Points

• Mackenzie Financial Corp has increased its stake in Prologis, Inc. by 35.6%, acquiring an additional 33,433 shares worth approximately $14.22 million.
• Prologis has seen multiple investments from institutional investors, with about 93.50% of its stock currently owned by them.
• The company reported $1.46 earnings per share for the last quarter, exceeding analysts' expectations, while also announcing a quarterly dividend of $1.01 per share.

Mackenzie Financial Corp boosted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 35.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 127,223 shares of the real estate investment trust's stock after purchasing an additional 33,433 shares during the period. Mackenzie Financial Corp's holdings in Prologis were worth $14,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew 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 acquiring an additional 15,078 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in shares of Prologis by 26.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 16,398 shares of the real estate investment trust's stock valued at $1,733,000 after acquiring an additional 3,478 shares during the period. Headlands Technologies LLC grew its position in shares of Prologis by 283.0% during the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the real estate investment trust's stock valued at $512,000 after acquiring an additional 3,580 shares during the period. RFG Bristol Wealth Advisors LLC acquired a new stake in shares of Prologis during the 4th quarter valued at about $456,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Prologis by 2.1% during 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 period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the topic of a number of research reports. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Barclays decreased their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI decreased their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Royal Bank Of Canada decreased their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average target price of $120.74.

Prologis Trading Down 1.7%

Prologis stock traded down $1.86 during trading on Friday, hitting $104.92. The company had a trading volume of 6,122,816 shares, compared to its average volume of 4,380,032. The company's 50 day simple moving average is $107.57 and its 200-day simple moving average is $109.80. The stock has a market cap of $97.37 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.68 and a beta of 1.21. The company has a current ratio of 0.65, a quick ratio of 0.41 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 earnings per share. As a group, analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's payout ratio is 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.