First Trust Advisors LP Buys 30,526 Shares of Prologis, Inc. (NYSE:PLD)

First Trust Advisors LP lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 19.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 188,928 shares of the real estate investment trust's stock after acquiring an additional 30,526 shares during the quarter. First Trust Advisors LP's holdings in Prologis were worth $19,970,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co boosted its position in Prologis by 14.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 18,163 shares of the real estate investment trust's stock worth $2,294,000 after acquiring an additional 2,245 shares during the period. World Investment Advisors LLC purchased a new position in Prologis during the third quarter valued at approximately $989,000. Wilmington Savings Fund Society FSB acquired a new position in Prologis in the 3rd quarter valued at approximately $1,348,000. Destination Wealth Management lifted its position in Prologis by 121.5% in the 3rd quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust's stock worth $569,000 after buying an additional 2,471 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Prologis by 12.7% during the 3rd quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust's stock valued at $25,288,000 after buying an additional 22,516 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. CJS Securities cut their price objective on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Evercore ISI reduced their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Royal Bank of Canada cut their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday. BTIG Research decreased their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Finally, Truist Financial increased their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.05.

Prologis Price Performance

Shares of NYSE PLD traded up $1.46 during trading on Thursday, reaching $103.66. The company had a trading volume of 2,383,435 shares, compared to its average volume of 4,144,893. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a market cap of $96.09 billion, a PE ratio of 25.91, a PEG ratio of 2.70 and a beta of 1.20. The business's 50 day moving average price is $108.38 and its 200-day moving average price is $112.22. 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 issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion for 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 earnings per share for the current year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.90%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Prologis 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.