Vanguard Group Inc. Has $13.56 Billion Stake in Prologis, Inc. (NYSE:PLD)

Key Points

• Vanguard Group Inc. increased its stake in Prologis, Inc. to approximately 13.08%, now owning $13.56 billion worth of shares after acquiring an additional 869,310 shares in the first quarter.
• Prologis reported $1.46 EPS for the quarter, surpassing analysts' expectations, with a quarterly revenue increase of 8.8% year-over-year.
• The company recently declared a quarterly dividend of $1.01 per share, representing an annualized dividend yield of 3.8%, though the dividend payout ratio stands at 109.49%.

Vanguard Group Inc. raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,339,410 shares of the real estate investment trust's stock after acquiring an additional 869,310 shares during the quarter. Vanguard Group Inc. owned approximately 13.08% of Prologis worth $13,564,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC lifted its position in shares of Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares in the last quarter. Rathbones Group PLC purchased a new stake in Prologis in the fourth quarter valued at approximately $362,000. FIL Ltd raised its stake in shares of Prologis by 44.8% during the fourth quarter. FIL Ltd now owns 863,251 shares of the real estate investment trust's stock worth $91,246,000 after acquiring an additional 267,096 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Prologis by 242.8% in the fourth quarter. Bank of Nova Scotia now owns 439,460 shares of the real estate investment trust's stock worth $46,451,000 after purchasing an additional 311,275 shares during the last quarter. Finally, Greenland Capital Management LP bought a new stake in Prologis in the fourth quarter valued at $482,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PLD. UBS Group increased their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. BMO Capital Markets decreased their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Barclays decreased their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Scotiabank increased 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 equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $120.74.

Prologis Stock Performance

PLD opened at $107.01 on Wednesday. The stock has a 50-day moving average of $107.59 and a 200-day moving average of $109.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $99.31 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.21. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. Prologis's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 earnings per share. As a group, equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal 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 issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.8%. Prologis's dividend payout ratio (DPR) is 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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