Jacobs Levy Equity Management Inc. Raises Position in Prologis, Inc. (NYSE:PLD)

Jacobs Levy Equity Management Inc. raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 61.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 491,991 shares of the real estate investment trust's stock after acquiring an additional 188,101 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.05% of Prologis worth $52,003,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PLD. Norges Bank bought a new position in Prologis during the 4th quarter valued at $951,263,000. Northern Trust Corp lifted its stake in Prologis by 54.6% during the 4th 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 acquiring an additional 4,893,284 shares in the last quarter. Capital Research Global Investors increased its position in shares of Prologis by 25.4% during the 4th 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 during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Prologis during the 4th quarter valued at $254,876,000. Finally, FMR LLC increased its position in shares of Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PLD shares. Mizuho decreased their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Barclays decreased their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. BMO Capital Markets decreased their target price on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley decreased their target price on Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $121.84.

Prologis Price Performance

PLD stock traded up $1.33 during mid-day trading on Friday, reaching $110.56. 2,768,361 shares of the company traded hands, compared to its average volume of 4,200,330. The company has a fifty day moving average price of $104.90 and a 200-day moving average price of $111.09. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a market capitalization of $102.59 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.70 and a beta of 1.25. 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 (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion during 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, analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared 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. This represents a $4.04 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's payout ratio is 101.00%.

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.