Governors Lane LP Takes Position in Prologis, Inc. (NYSE:PLD)

Governors Lane LP bought a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 73,400 shares of the real estate investment trust's stock, valued at approximately $7,758,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Norges Bank acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $951,263,000. Northern Trust Corp raised its position in 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 valued at $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. Capital Research Global Investors raised its position in Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Prologis in the fourth quarter valued at approximately $254,876,000. Finally, FMR LLC boosted its position in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 1.4%

PLD traded down $1.53 on Tuesday, hitting $108.80. The company had a trading volume of 362,838 shares, compared to its average volume of 4,170,802. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The stock has a fifty day simple moving average of $105.67 and a 200-day simple moving average of $111.25. The firm has a market capitalization of $100.96 billion, a P/E ratio of 27.20, a P/E/G ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. As a group, equities 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 annualized dividend and a yield of 3.71%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PLD shares. Morgan Stanley decreased their price target on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Barclays cut 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. Truist Financial decreased their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. UBS Group upped their price target on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, Scotiabank boosted their price objective on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.84.

Prologis Company 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.