USS Investment Management Ltd Sells 11,052 Shares of Prologis, Inc. (NYSE:PLD)

USS Investment Management Ltd reduced its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,717 shares of the real estate investment trust's stock after selling 11,052 shares during the quarter. USS Investment Management Ltd's holdings in Prologis were worth $16,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Norges Bank purchased a new position in shares of Prologis in the fourth quarter worth approximately $951,263,000. 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 worth $1,464,509,000 after acquiring an additional 4,893,284 shares in the last quarter. Capital Research Global Investors increased its position in shares of Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after acquiring an additional 2,500,761 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Prologis in the fourth quarter worth approximately $254,876,000. Finally, 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 worth $1,889,747,000 after acquiring an additional 1,875,978 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 0.9%

PLD stock traded down $0.97 during trading hours on Friday, hitting $104.13. The company's stock had a trading volume of 3,075,490 shares, compared to its average volume of 4,187,571. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $96.62 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The stock has a 50 day moving average price of $104.26 and a two-hundred day moving average price of $110.87.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio is 101.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLD. Wells Fargo & Company dropped their target price on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Evercore ISI dropped their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. CJS Securities lowered their price objective on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Robert W. Baird lowered their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Scotiabank boosted their price objective 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 analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and an average price target of $120.42.

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.