Woodline Partners LP purchased a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 35,948 shares of the real estate investment trust's stock, valued at approximately $3,800,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. grew its holdings in Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after purchasing an additional 882,529 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after purchasing an additional 610,251 shares in the last quarter. FMR LLC boosted its stake in Prologis by 11.7% during 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 in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 during the last quarter. Finally, Northern Trust Corp raised its position in shares of Prologis by 54.6% during 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 purchasing an additional 4,893,284 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.
Prologis Stock Performance
NYSE PLD traded up $1.31 on Wednesday, reaching $107.93. 4,580,012 shares of the stock were exchanged, compared to its average volume of 4,192,958. The firm has a market capitalization of $100.15 billion, a PE ratio of 26.98, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company's 50-day simple moving average is $103.98 and its two-hundred day simple moving average is $110.71. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.
Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. Analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.
Prologis Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.74%. Prologis's dividend payout ratio is presently 101.00%.
Analysts Set New Price Targets
PLD has been the topic of several research analyst reports. Raymond James restated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Barclays decreased their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Truist Financial cut their target price on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, Scotiabank boosted their target price on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and a consensus price target of $120.42.
View Our Latest Report on Prologis
About Prologis
(
Free Report)
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.
Featured Stories
Before you consider Prologis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prologis wasn't on the list.
While Prologis currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
