Lazard Asset Management LLC Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Lazard Asset Management LLC reduced its position in Prologis, Inc. (NYSE:PLD - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,261,434 shares of the real estate investment trust's stock after selling 800,107 shares during the period. Lazard Asset Management LLC owned about 0.57% of Prologis worth $556,131,000 at the end of the most recent reporting period.

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

Prologis Stock Performance

Shares of NYSE PLD traded up $1.49 during trading on Thursday, reaching $109.09. 3,163,461 shares of the company traded hands, compared to its average volume of 4,202,426. The stock has a market cap of $101.23 billion, a P/E ratio of 27.27, a PEG ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The firm's fifty day simple moving average is $105.21 and its 200 day simple moving average is $111.22. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.70%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. BMO Capital Markets lowered 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. CJS Securities lowered their price objective on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Barclays cut their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada cut 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 report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.