Man Group plc Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Man Group plc decreased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,442 shares of the real estate investment trust's stock after selling 12,516 shares during the period. Man Group plc's holdings in Prologis were worth $787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis during the fourth quarter worth about $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the 4th quarter valued at about $30,000. Whipplewood Advisors LLC acquired a new position in Prologis during the fourth quarter worth approximately $34,000. Finally, Promus Capital LLC acquired a new position in Prologis during the fourth quarter worth approximately $34,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLD has been the topic of several research analyst reports. Barclays cut 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. BMO Capital Markets cut their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Evercore ISI cut 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. Robert W. Baird decreased their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, CJS Securities lowered their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.42.

Prologis Price Performance

Shares of PLD traded up $1.31 during trading hours on Wednesday, reaching $107.93. The company had a trading volume of 4,580,012 shares, compared to its average volume of 4,192,958. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The firm has a 50 day simple moving average of $103.98 and a 200-day simple moving average of $110.71. The company has a market capitalization of $100.15 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last issued its 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 company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced 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. This represents a $4.04 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is 101.00%.

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.