QRG Capital Management Inc. grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 18.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,419 shares of the real estate investment trust's stock after acquiring an additional 18,722 shares during the period. QRG Capital Management Inc.'s holdings in Prologis were worth $13,350,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. REAP Financial Group LLC boosted its holdings in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after buying an additional 84 shares during the period. Phoenix Financial Ltd. lifted its position in Prologis by 1.0% during 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. Black Diamond Financial LLC raised its holdings in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after buying an additional 93 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after buying an additional 100 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its stake in shares of Prologis by 22.3% in the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 102 shares during the period. 93.50% of the stock is owned by institutional investors.
Prologis Stock Performance
Shares of NYSE:PLD traded down $0.04 during midday trading on Wednesday, hitting $105.05. The company had a trading volume of 2,599,324 shares, compared to its average volume of 4,118,966. The company has a fifty day moving average of $105.09 and a two-hundred day moving average of $109.95. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a market cap of $97.48 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 2.67 and a beta of 1.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41.
Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. On average, equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.
Prologis Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.85%. Prologis's payout ratio is 101.00%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on PLD shares. Evercore ISI decreased their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Truist Financial reduced their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Mizuho decreased their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Royal Bank Of Canada reduced their price objective 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, CJS Securities lowered their price objective on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $120.42.
View Our Latest Research Report on PLD
Prologis Company Profile
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Free Report)
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.
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