Sarasin & Partners LLP Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

Sarasin & Partners LLP lowered its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 867,491 shares of the real estate investment trust's stock after selling 69,371 shares during the period. Sarasin & Partners LLP owned 0.09% of Prologis worth $96,977,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Cohen & Steers Inc. grew its stake in Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after buying an additional 882,529 shares in the last quarter. Geode Capital Management LLC raised its holdings in Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after buying an additional 610,251 shares during the last quarter. FMR LLC grew its stake in shares of Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after buying an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after buying an additional 4,893,284 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Trading Up 0.5%

PLD traded up $0.57 on Tuesday, hitting $109.50. The company had a trading volume of 3,771,649 shares, compared to its average volume of 4,145,479. The company's fifty day moving average price is $103.61 and its 200 day moving average price is $110.31. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market cap of $101.61 billion, a P/E ratio of 27.38, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company 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 dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.69%. Prologis's dividend payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PLD shares. 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. Barclays reduced their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley lowered their price objective on shares of Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Truist Financial reduced their target price on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.