Y Intercept Hong Kong Ltd Buys Shares of 55,212 Prologis, Inc. $PLD

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Prologis during the first quarter, buying 55,212 shares valued at about $7.3 million.
• Prologis continues to draw heavy institutional interest, with 93.5% of shares owned by hedge funds and other institutions, while several firms increased their stakes in the latest quarter.
• Analysts remain generally positive on the stock despite one downgrade: Prologis has a Moderate Buy consensus rating, an average target price of $152, and recently posted earnings and revenue that beat estimates.

Y Intercept Hong Kong Ltd acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 55,212 shares of the real estate investment trust's stock, valued at approximately $7,298,000.

A number of other institutional investors also recently bought and sold shares of PLD. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Prologis by 61.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 254,233 shares of the real estate investment trust's stock worth $33,605,000 after buying an additional 96,812 shares in the last quarter. Elevation Point Wealth Partners LLC increased its holdings in Prologis by 144.4% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 29,330 shares of the real estate investment trust's stock valued at $3,877,000 after acquiring an additional 17,327 shares in the last quarter. Platform Technology Partners raised its position in Prologis by 2.7% during the first quarter. Platform Technology Partners now owns 24,684 shares of the real estate investment trust's stock worth $3,263,000 after acquiring an additional 654 shares during the last quarter. Jamison Private Wealth Management Inc. raised its position in Prologis by 7.7% during the first quarter. Jamison Private Wealth Management Inc. now owns 5,209 shares of the real estate investment trust's stock worth $689,000 after acquiring an additional 372 shares during the last quarter. Finally, Prasad Wealth Partners LLC purchased a new stake in shares of Prologis in the first quarter valued at about $209,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PLD shares. Scotiabank cut Prologis from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $154.00 to $146.00 in a report on Thursday, June 18th. DA Davidson upped their price objective on Prologis from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Truist Financial increased their price objective on Prologis from $139.00 to $154.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Mizuho lifted their price objective on Prologis from $143.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Bank of America boosted their target price on shares of Prologis from $153.00 to $162.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and an average target price of $152.00.

Prologis Price Performance

Shares of Prologis stock opened at $139.21 on Friday. The business's fifty day moving average price is $142.78 and its 200 day moving average price is $136.84. Prologis, Inc. has a twelve month low of $103.41 and a twelve month high of $150.18. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $129.79 billion, a P/E ratio of 35.07, a PEG ratio of 3.03 and a beta of 1.32.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.24. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.12 billion. Prologis had a net margin of 41.54% and a return on equity of 6.47%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 earnings per share. Prologis has set its FY 2026 guidance at 6.070-6.230 EPS. As a group, research analysts anticipate that Prologis, Inc. will post 6.17 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, June 16th. Prologis's dividend payout ratio is 107.81%.

Insider Activity at Prologis

In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company's stock.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.

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