Investment Management Corp of Ontario Acquires 20,273 Shares of Prologis, Inc. (NYSE:PLD)

Investment Management Corp of Ontario raised its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 66.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,012 shares of the real estate investment trust's stock after purchasing an additional 20,273 shares during the quarter. Investment Management Corp of Ontario's holdings in Prologis were worth $5,392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in Prologis during the fourth quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in Prologis during the 4th quarter worth $30,000. Whipplewood Advisors LLC acquired a new position in Prologis in the 4th quarter valued at $34,000. Finally, Promus Capital LLC bought a new stake in shares of Prologis during the 4th quarter valued at $34,000. 93.50% of the stock is owned by institutional investors.

Prologis Trading Down 2.1%

NYSE PLD traded down $2.28 on Wednesday, hitting $107.42. The company's stock had a trading volume of 7,699,292 shares, compared to its average volume of 4,207,163. The company's 50-day moving average is $105.21 and its 200 day moving average is $111.22. The firm has a market cap of $99.68 billion, a PE ratio of 26.86, a PEG 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 company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

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 given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLD. UBS Group upped their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Royal Bank of Canada decreased 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 note on Tuesday, April 29th. Mizuho cut their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, BMO Capital Markets decreased their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently 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.