Invenomic Capital Management LP Purchases New Shares in Prologis, Inc. (NYSE:PLD)

Invenomic Capital Management LP bought a new stake in Prologis, Inc. (NYSE:PLD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 207,979 shares of the real estate investment trust's stock, valued at approximately $21,983,000. Prologis accounts for about 1.0% of Invenomic Capital Management LP's investment portfolio, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in Prologis in the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis in the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter valued at $30,000. Whipplewood Advisors LLC acquired a new position in shares of Prologis during the 4th quarter valued at $34,000. Finally, Promus Capital LLC purchased a new stake in Prologis during the 4th quarter worth $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. CJS Securities dropped their target price 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 on the stock in a research report on Thursday, April 17th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Finally, Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $121.84.

Prologis Price Performance

PLD traded down $2.28 during trading on Wednesday, reaching $107.42. The stock had a trading volume of 7,699,292 shares, compared to its average volume of 4,207,163. The stock has a 50 day moving average of $105.21 and a two-hundred day moving average of $111.22. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $99.68 billion, a price-to-earnings ratio of 26.86, 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.

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, beating the consensus estimate of $1.38 by $0.04. The business 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%. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.76%. Prologis's dividend payout ratio is currently 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.