Prologis, Inc. (NYSE:PLD) Shares Acquired by Lazard Freres Gestion S.A.S.

Key Points

• Lazard Freres Gestion S.A.S. increased its stake in Prologis, Inc. by 136.8% in Q1, bringing its total holdings to 12,880 shares valued at approximately $1.44 million.
• Research firms have adjusted their price targets for Prologis, with Mizuho lowering its target from $117.00 to $105.00, while UBS Group increased its target from $106.00 to $120.00, reflecting varied investment sentiments.
• Prologis reported earnings of $1.46 per share for the latest quarter, exceeding analysts’ expectations, and declared a quarterly dividend of $1.01 per share, resulting in a 3.66% dividend yield.

Lazard Freres Gestion S.A.S. raised its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 136.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,880 shares of the real estate investment trust's stock after acquiring an additional 7,440 shares during the quarter. Lazard Freres Gestion S.A.S.'s holdings in Prologis were worth $1,439,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. REAP Financial Group LLC raised its stake 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 valued at $31,000 after purchasing an additional 84 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in shares of Prologis in the first quarter valued at about $43,000. Cornerstone Planning Group LLC raised its position in shares of Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 152 shares during the last quarter. Missouri Trust & Investment Co raised its position in shares of Prologis by 59.6% in the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 149 shares during the last quarter. Finally, Bogart Wealth LLC raised its position in shares of Prologis by 56.2% in the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Trading Down 1.3%

Prologis stock traded down $1.38 during trading on Thursday, hitting $107.11. The company had a trading volume of 1,690,181 shares, compared to its average volume of 4,595,423. 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 0.19, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. The company's 50 day simple moving average is $107.51 and its 200-day simple moving average is $109.82. The stock has a market cap of $99.39 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 2.75 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company's revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. As a group, analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.77%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is currently 109.49%.

Wall Street Analyst Weigh In

A number of research firms have commented on PLD. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Morgan Stanley cut their price target on Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada cut their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Finally, Truist Financial cut their target price on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Two investment 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.74.

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.