MYDA Advisors LLC Buys 68,933 Shares of Prologis, Inc. (NYSE:PLD)

MYDA Advisors LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 98.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 138,933 shares of the real estate investment trust's stock after buying an additional 68,933 shares during the period. Prologis makes up 3.7% of MYDA Advisors LLC's investment portfolio, making the stock its 5th biggest holding. MYDA Advisors LLC's holdings in Prologis were worth $14,685,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Prologis in the fourth quarter worth $951,263,000. Capital Research Global Investors raised its stake in shares of Prologis by 25.4% in 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 buying an additional 2,500,761 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Prologis during the 4th quarter worth about $254,876,000. FMR LLC lifted its holdings 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 worth $1,889,747,000 after acquiring an additional 1,875,978 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Prologis by 83.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after acquiring an additional 1,723,129 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. Morgan Stanley cut their price target on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. CJS Securities decreased their price target on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Mizuho dropped their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets dropped their target price on shares of Prologis from $105.00 to $95.00 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 given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Prologis has an average rating of "Moderate Buy" and a consensus target price of $123.32.

Prologis Trading Down 0.5 %

Shares of Prologis stock traded down $0.55 during trading on Friday, reaching $102.81. 1,214,675 shares of the company were exchanged, compared to its average volume of 4,140,539. The business has a 50-day moving average price of $109.86 and a 200-day moving average price of $112.68. The firm has a market capitalization of $95.30 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 2.70 and a beta of 1.20. 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, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57.

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

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company's stock.

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.