Prologis, Inc. (NYSE:PLD) Position Lifted by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 39.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 407,757 shares of the real estate investment trust's stock after buying an additional 115,524 shares during the quarter. Lord Abbett & CO. LLC's holdings in Prologis were worth $43,100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PLD. Burling Wealth Partners LLC acquired a new position in Prologis in the 4th quarter valued at about $1,505,000. Adage Capital Partners GP L.L.C. raised its position in Prologis by 8.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 779,100 shares of the real estate investment trust's stock valued at $82,351,000 after purchasing an additional 63,200 shares during the period. MGO One Seven LLC increased its position in shares of Prologis by 14.0% during the 4th quarter. MGO One Seven LLC now owns 12,282 shares of the real estate investment trust's stock worth $1,298,000 after purchasing an additional 1,507 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in Prologis by 28.6% in the 4th quarter. Dark Forest Capital Management LP now owns 4,078 shares of the real estate investment trust's stock valued at $431,000 after buying an additional 907 shares during the period. Finally, Alta Advisers Ltd boosted its stake in Prologis by 16.9% during the fourth quarter. Alta Advisers Ltd now owns 3,059 shares of the real estate investment trust's stock worth $323,000 after buying an additional 442 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of Prologis stock traded up $1.16 on Thursday, hitting $103.36. The company's stock had a trading volume of 1,856,720 shares, compared to its average volume of 4,142,725. 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 fifty day moving average price of $108.38 and a 200-day moving average price of $112.22. 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 $95.81 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results 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. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Tuesday, March 18th. Prologis's dividend payout ratio is presently 101.00%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLD. Morgan Stanley cut their price objective on Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Truist Financial raised their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, January 27th. BMO Capital Markets reduced their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Evercore ISI dropped their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. Finally, Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and an average target price of $122.05.

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.