Asset Management One Co. Ltd. Reduces Position in Prologis, Inc. (NYSE:PLD)

Asset Management One Co. Ltd. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,949,683 shares of the real estate investment trust's stock after selling 12,023 shares during the period. Prologis accounts for 1.1% of Asset Management One Co. Ltd.'s investment portfolio, making the stock its 12th largest holding. Asset Management One Co. Ltd. owned 0.21% of Prologis worth $263,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CreativeOne Wealth LLC boosted its stake in Prologis by 1.5% in the second quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust's stock valued at $680,000 after buying an additional 82 shares in the last quarter. SevenOneSeven Capital Management boosted its position in shares of Prologis by 2.3% during the fourth quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust's stock valued at $427,000 after buying an additional 86 shares during the last quarter. Family Legacy Inc. raised its stake in shares of Prologis by 0.5% in the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust's stock valued at $2,217,000 after buying an additional 87 shares during the period. Lockerman Financial Group Inc. raised its stake in shares of Prologis by 2.0% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust's stock valued at $587,000 after purchasing an additional 87 shares during the period. Finally, Hixon Zuercher LLC grew its position in Prologis by 0.6% during the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust's stock worth $1,950,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on PLD. StockNews.com raised Prologis from a "sell" rating to a "hold" rating in a research report on Thursday, December 14th. Mizuho reissued a "neutral" rating and set a $130.00 price target on shares of Prologis in a report on Tuesday. Evercore ISI reaffirmed an "in-line" rating and issued a $136.00 target price on shares of Prologis in a report on Monday, March 18th. Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 23rd. Finally, Scotiabank boosted their target price on Prologis from $134.00 to $143.00 and gave the company a "sector outperform" rating in a research report on Friday, December 15th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus target price of $141.67.

Prologis Price Performance

NYSE PLD traded down $1.50 during mid-day trading on Thursday, hitting $124.59. The stock had a trading volume of 4,335,664 shares, compared to its average volume of 3,137,581. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a market cap of $115.25 billion, a price-to-earnings ratio of 38.04, a P/E/G ratio of 2.51 and a beta of 1.00. The company has a 50 day simple moving average of $130.62 and a 200 day simple moving average of $121.88. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). The firm had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. Equities analysts forecast that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This is a boost from Prologis's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.08%. Prologis's dividend payout ratio (DPR) is 116.72%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.

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