Torray Investment Partners LLC Makes New Investment in Prologis, Inc. (NYSE:PLD)

Key Points

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Torray Investment Partners LLC bought a new stake in Prologis, Inc. (NYSE:PLD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,740 shares of the real estate investment trust's stock, valued at approximately $4,890,000.

Other large investors have also modified their holdings of the company. Northern Trust Corp raised its position in Prologis by 54.6% in the 4th 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 purchasing an additional 4,893,284 shares during the last quarter. Valeo Financial Advisors LLC raised its position in Prologis by 282.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after purchasing an additional 2,862,183 shares during the last quarter. Capital Research Global Investors raised its position in Prologis by 25.4% in the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares during the last quarter. FMR LLC raised its position in Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Prologis by 83.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after purchasing an additional 1,723,129 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PLD shares. Mizuho cut their price objective on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Citigroup cut their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Truist Financial cut their price objective 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. Finally, Royal Bank Of Canada cut their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Two investment 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 company's stock. According to MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and an average target price of $120.74.

Prologis Price Performance

NYSE PLD traded down $1.86 during trading hours on Friday, reaching $104.92. The company's stock had a trading volume of 6,122,816 shares, compared to its average volume of 4,380,032. The stock has a market cap of $97.37 billion, a PE ratio of 28.43, a PEG ratio of 2.68 and a beta of 1.21. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company's 50-day moving average is $107.57 and its two-hundred day moving average is $109.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.41 and a current ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last issued 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. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.34 EPS. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio is presently 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.