Metis Global Partners LLC Acquires 19,331 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Metis Global Partners LLC increased its stake in Prologis, Inc. by 11.5%, bringing its total holding to approximately $20.93 million and making Prologis its 26th largest investment.
• Prologis reported a Q2 earnings per share (EPS) of $1.46, surpassing estimates by $0.05, and revenue of $2.03 billion, indicating an 8.8% increase compared to the previous year.
• Recent research from analysts has led to varying price targets for Prologis, with an average consensus target of $120.74, alongside ratings from "sell" to "strong buy."

Metis Global Partners LLC lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 11.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 187,179 shares of the real estate investment trust's stock after purchasing an additional 19,331 shares during the period. Prologis comprises 0.6% of Metis Global Partners LLC's holdings, making the stock its 26th biggest position. Metis Global Partners LLC's holdings in Prologis were worth $20,925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. REAP Financial Group LLC grew its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares during the period. Phoenix Financial Ltd. raised its stake in shares of Prologis by 1.0% in the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after acquiring an additional 86 shares during the period. CreativeOne Wealth LLC grew its holdings in shares of Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after purchasing an additional 100 shares in the last quarter. Focus Financial Network Inc. grew its holdings in Prologis by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 104 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Prologis by 9.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock worth $142,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

Shares of PLD stock traded down $1.52 during trading hours on Thursday, reaching $106.97. 1,893,572 shares of the company's stock were exchanged, compared to its average volume of 4,596,468. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The stock has a market capitalization of $99.26 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.75 and a beta of 1.23. The business has a fifty day moving average price of $107.51 and a 200-day moving average price of $109.82. The company has a quick ratio of 0.41, a current ratio of 0.19 and a debt-to-equity ratio of 0.60.

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

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid 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 3.78%. Prologis's dividend payout ratio is currently 109.49%.

Wall Street Analyst Weigh In

PLD has been the subject of several research reports. BMO Capital Markets reduced their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. 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. Morgan Stanley decreased their target price on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Royal Bank Of Canada cut their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Finally, Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average price target of $120.74.

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.