Moore Capital Management LP Acquires Shares of 390,880 Prologis, Inc. $PLD

Key Points

• Moore Capital Management opened a new position in Prologis during the fourth quarter, buying 390,880 shares worth about $49.9 million. The stake now represents 0.7% of its portfolio and is its 16th-largest holding.
• Institutional ownership in Prologis remains very high at 93.5%, with several major firms increasing their stakes. Notable buyers included Vanguard, Geode Capital Management, Capital Research Global Investors, Norges Bank, and Charles Schwab Investment Management.
• Prologis recently reported earnings and dividend updates that were generally positive: quarterly EPS of $1.05 beat estimates, revenue rose 6.9% year over year, and the company declared a $1.07 quarterly dividend yielding about 3.0%. Analysts currently rate the stock a Moderate Buy with an average target price of $151.86.

Moore Capital Management LP acquired a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 390,880 shares of the real estate investment trust's stock, valued at approximately $49,900,000. Prologis makes up 0.7% of Moore Capital Management LP's portfolio, making the stock its 16th largest position.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Prologis by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 123,323,290 shares of the real estate investment trust's stock valued at $15,743,451,000 after acquiring an additional 1,258,407 shares in the last quarter. Geode Capital Management LLC lifted its stake in Prologis by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 23,012,940 shares of the real estate investment trust's stock valued at $2,925,791,000 after acquiring an additional 339,906 shares in the last quarter. Capital Research Global Investors lifted its stake in Prologis by 4.4% during the 4th quarter. Capital Research Global Investors now owns 16,061,390 shares of the real estate investment trust's stock valued at $2,050,397,000 after acquiring an additional 678,363 shares in the last quarter. Norges Bank bought a new position in Prologis during the 4th quarter valued at $1,589,125,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Prologis by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,639,644 shares of the real estate investment trust's stock valued at $1,485,917,000 after acquiring an additional 516,765 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Timothy D. Arndt sold 3,597 shares of Prologis stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

PLD has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Prologis from $155.00 to $167.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Royal Bank Of Canada raised their price objective on Prologis from $135.00 to $148.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded Prologis from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, May 1st. The Goldman Sachs Group reiterated a "neutral" rating and set a $157.00 target price on shares of Prologis in a research note on Friday, April 17th. Finally, BMO Capital Markets upgraded Prologis from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $137.00 to $162.00 in a research note on Thursday, May 7th. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $151.86.

Prologis Trading Down 3.6%

NYSE PLD opened at $140.83 on Thursday. The stock has a market capitalization of $131.30 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 3.21 and a beta of 1.32. Prologis, Inc. has a one year low of $103.41 and a one year high of $150.18. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.51 and a quick ratio of 0.51. The business's fifty day moving average is $142.69 and its 200-day moving average is $135.94.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.24. The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.12 billion. Prologis had a return on equity of 6.47% and a net margin of 41.54%.The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. Prologis has set its FY 2026 guidance at 6.070-6.230 EPS. Equities research analysts predict that Prologis, Inc. will post 6.18 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $4.28 annualized dividend and a yield of 3.0%. Prologis's dividend payout ratio (DPR) is 107.81%.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.

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