Ninety One SA PTY Ltd Lowers Position in Prologis, Inc. (NYSE:PLD)

Ninety One SA PTY Ltd decreased its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 50.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,462 shares of the real estate investment trust's stock after selling 2,532 shares during the period. Ninety One SA PTY Ltd's holdings in Prologis were worth $274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in Prologis during the 4th quarter worth $951,263,000. Northern Trust Corp grew its position in Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after acquiring an additional 4,893,284 shares during the last quarter. Capital Research Global Investors grew its position in Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after acquiring an additional 2,500,761 shares during the last quarter. FMR LLC grew its position in shares of Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Prologis by 83.8% in the 4th 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 buying an additional 1,723,129 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Up 0.6%

PLD stock traded up $0.64 during trading on Friday, reaching $109.05. 3,209,283 shares of the stock were exchanged, compared to its average volume of 4,184,081. The firm's 50 day moving average is $107.21 and its 200 day moving average is $109.52. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The firm has a market cap of $101.19 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.75 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Wall Street Analyst Weigh In

A number of research firms have commented on PLD. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Morgan Stanley reduced their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Evercore ISI reduced their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company reduced their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Barclays reduced their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $119.53.

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.