Westwood Holdings Group Inc. Boosts Stake in Prologis, Inc. (NYSE:PLD)

Westwood Holdings Group Inc. boosted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 742,567 shares of the real estate investment trust's stock after buying an additional 82,755 shares during the period. Westwood Holdings Group Inc. owned approximately 0.08% of Prologis worth $78,489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Cohen & Steers Inc. increased its holdings in shares of Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after purchasing an additional 882,529 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after purchasing an additional 610,251 shares in the last quarter. FMR LLC increased its holdings in shares of Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after purchasing an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of 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. Institutional investors own 93.50% of the company's stock.

Prologis Price Performance

Shares of Prologis stock traded down $4.02 during trading hours on Wednesday, hitting $104.72. The company's stock had a trading volume of 2,861,561 shares, compared to its average volume of 4,191,388. The business has a 50 day moving average price of $104.62 and a two-hundred day moving average price of $111.00. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a market cap of $97.17 billion, a PE ratio of 26.18, a PEG ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company 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 $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.86%. Prologis's dividend payout ratio is currently 101.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLD shares. 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 report on Tuesday, April 29th. Evercore ISI cut their price objective on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Mizuho cut their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Finally, Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.42.

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.