Stevens Capital Management LP Makes New $4.33 Million Investment in Prologis, Inc. (NYSE:PLD)

Key Points

• Stevens Capital Management LP made a new investment of approximately $4.33 million in Prologis, acquiring 38,769 shares, which now makes up 1.1% of its investment portfolio.
• Prologis recently reported a quarterly earnings per share (EPS) of $1.46, beating analysts' consensus estimates, and anticipates posting an EPS of 5.73 for the current fiscal year.
• Citation from analysts showed a mixed sentiment with price targets ranging from $95 to $140, and an average price target of $120.74 indicating a "Moderate Buy" rating.

Stevens Capital Management LP acquired a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,769 shares of the real estate investment trust's stock, valued at approximately $4,334,000. Prologis makes up about 1.1% of Stevens Capital Management LP's investment portfolio, making the stock its 27th largest holding.

Several other hedge funds have also bought and sold shares of the stock. Cohen & Steers Inc. boosted its position 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 purchasing an additional 882,529 shares in the last quarter. Geode Capital Management LLC boosted its position in Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after purchasing an additional 610,251 shares in the last quarter. FMR LLC increased its position 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 valued at $1,889,747,000 after buying an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after buying an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Prologis by 54.6% in 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 in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PLD shares. Citigroup cut their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Barclays decreased their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets decreased their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Scotiabank raised their price objective on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have given 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 price target of $120.74.

Prologis Price Performance

NYSE:PLD opened at $109.76 on Friday. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.19. The stock has a market cap of $101.85 billion, a PE ratio of 29.74, a P/E/G ratio of 2.76 and a beta of 1.23. The stock has a 50 day moving average price of $107.49 and a 200 day moving average price of $109.72.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.68%. Prologis's dividend payout ratio (DPR) is currently 109.49%.

Prologis Company 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.

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