Waverton Investment Management Ltd Cuts Stake in Prologis, Inc. (NYSE:PLD)

Waverton Investment Management Ltd lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 15.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,412 shares of the real estate investment trust's stock after selling 81,487 shares during the period. Waverton Investment Management Ltd's holdings in Prologis were worth $48,006,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PLD. Norges Bank purchased a new position in Prologis in the fourth quarter valued at about $951,263,000. Northern Trust Corp boosted 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 worth $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. Capital Research Global Investors grew its position in Prologis by 25.4% during the fourth 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 buying an additional 2,500,761 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Prologis in the fourth quarter valued at approximately $254,876,000. Finally, FMR LLC grew 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 purchasing an additional 1,875,978 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

NYSE PLD opened at $104.45 on Friday. The business's 50 day moving average is $106.14 and its two-hundred day moving average is $109.55. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The stock has a market capitalization of $96.93 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.66 and a beta of 1.25. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. Research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.87%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLD. Barclays dropped their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Truist Financial lowered their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada cut their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Robert W. Baird lowered their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Evercore ISI decreased their price objective on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.42.

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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