17,043 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 17,043 shares of the real estate investment trust's stock, valued at approximately $1,801,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Aviva PLC raised its stake in shares of Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock worth $73,481,000 after purchasing an additional 186,187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after acquiring an additional 179,880 shares in the last quarter. Allstate Corp grew its holdings in shares of Prologis by 111.7% in the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after acquiring an additional 39,321 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Prologis by 2.1% in the fourth 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 in the last quarter. Finally, Banco Santander S.A. grew its holdings in shares of Prologis by 88.0% in the fourth quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust's stock valued at $495,000 after acquiring an additional 2,192 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Up 2.5%

Shares of NYSE PLD traded up $2.59 during trading hours on Tuesday, hitting $106.63. The company's stock had a trading volume of 4,067,255 shares, compared to its average volume of 4,191,407. 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 cap of $98.94 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The business has a 50-day simple moving average of $104.09 and a 200-day simple moving average of $110.74.

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

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.79%. Prologis's dividend payout ratio is currently 101.00%.

Analysts Set New Price Targets

Several brokerages have weighed in on PLD. Truist Financial reduced their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Mizuho reduced their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wells Fargo & Company reduced their price objective on Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, May 19th. CJS Securities cut their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Finally, UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average target price of $120.42.

Prologis 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.