FORA Capital LLC Acquires Shares of 3,945 Prologis, Inc. (NYSE:PLD)

FORA Capital LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,945 shares of the real estate investment trust's stock, valued at approximately $417,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empirical Asset Management LLC boosted its position in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock worth $7,249,000 after purchasing an additional 52,963 shares during the period. Cardano Risk Management B.V. lifted its stake in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after buying an additional 25,266 shares in the last quarter. Aviva PLC boosted its holdings in Prologis by 36.6% in the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock worth $73,481,000 after buying an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after buying an additional 179,880 shares during the period. Finally, Allstate Corp grew its stake in Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after buying an additional 39,321 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Price Performance

PLD traded down $0.59 during midday trading on Tuesday, hitting $109.74. The stock had a trading volume of 4,533,902 shares, compared to its average volume of 4,191,273. The company has a market cap of $101.83 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The business has a fifty day moving average of $105.67 and a 200 day moving average of $111.25. 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 released its earnings results 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. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of analyst reports. Truist Financial cut 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. BMO Capital Markets cut their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Evercore ISI decreased their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Barclays lowered their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.84.

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.