Prologis, Inc. (NYSE:PLD) Position Lessened by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,340,154 shares of the real estate investment trust's stock after selling 516,281 shares during the quarter. Nuveen Asset Management LLC owned about 1.44% of Prologis worth $1,410,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Phoenix Financial Ltd. increased its position in Prologis by 1.0% in the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after acquiring an additional 86 shares during the period. Principle Wealth Partners LLC increased its position in Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after acquiring an additional 92 shares during the period. Black Diamond Financial LLC increased its position in Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock valued at $449,000 after acquiring an additional 93 shares during the period. Berkshire Bank increased its position in Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after acquiring an additional 95 shares during the period. Finally, CreativeOne Wealth LLC increased its position in Prologis by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after acquiring an additional 100 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. CJS Securities lowered their target price on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Morgan Stanley lowered their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Mizuho lowered their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, BMO Capital Markets lowered their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock 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 assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $121.84.

Prologis Stock Up 1.2%

Shares of Prologis stock traded up $1.33 during midday trading on Friday, hitting $110.56. The company's stock had a trading volume of 2,768,361 shares, compared to its average volume of 4,196,572. The firm has a market capitalization of $102.59 billion, a P/E ratio of 27.64, a PEG ratio of 2.70 and a beta of 1.25. The stock has a 50-day simple moving average of $104.90 and a 200-day simple moving average of $111.12. 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 1-year low of $85.35 and a 1-year high of $132.57.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.65%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

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.