TCW Group Inc. Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• TCW Group Inc. boosted its stake in Prologis, Inc. by 12.0%, acquiring a total of 70,486 shares worth nearly $7.88 million at the end of the first quarter.
• Several research firms have recently adjusted their price targets for Prologis, with current estimates ranging from $117.00 to $140.00 and a consensus rating of "Moderate Buy."
• Prologis reported quarterly earnings of $1.46 per share, exceeding expectations, and announced a dividend of $1.01 per share with an annual yield of 3.66%.

TCW Group Inc. increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,486 shares of the real estate investment trust's stock after acquiring an additional 7,536 shares during the quarter. TCW Group Inc.'s holdings in Prologis were worth $7,880,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. REAP Financial Group LLC grew its holdings in shares of Prologis by 40.0% during the fourth 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 in the last quarter. Phoenix Financial Ltd. boosted its position in shares of 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 last quarter. CreativeOne Wealth LLC boosted its position in shares of Prologis by 1.7% during the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after acquiring an additional 100 shares during the last quarter. Focus Financial Network Inc. boosted its position in shares of Prologis by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock valued at $234,000 after acquiring an additional 104 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Prologis by 9.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,346 shares of the real estate investment trust's stock valued at $142,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Down 1.1%

Shares of PLD traded down $1.14 during mid-day trading on Thursday, hitting $107.35. 1,459,109 shares of the company's stock were exchanged, compared to its average volume of 4,593,657. The company has a market cap of $99.61 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 2.75 and a beta of 1.23. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week 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's 50-day moving average is $107.51 and its 200-day moving average is $109.82.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the prior year, the company earned $1.34 earnings per share. The business's quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.76%. Prologis's payout ratio is 109.49%.

Analysts Set New Price Targets

PLD has been the topic of several recent research reports. BMO Capital Markets lowered their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Citigroup lowered their price target on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Royal Bank Of Canada lowered their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, Scotiabank boosted their price target on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.74.

About Prologis

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.