Baillie Gifford & Co. Trims Holdings in Prologis, Inc. (NYSE:PLD)

Baillie Gifford & Co. cut its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 350,959 shares of the real estate investment trust's stock after selling 57,179 shares during the quarter. Baillie Gifford & Co.'s holdings in Prologis were worth $46,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Prologis during the 4th quarter worth approximately $980,759,000. Morgan Stanley boosted its position in Prologis by 48.0% during the 4th quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust's stock worth $1,643,359,000 after buying an additional 4,729,040 shares during the period. Moneta Group Investment Advisors LLC acquired a new position in shares of Prologis in the 4th quarter worth approximately $232,205,000. Legal & General Group Plc lifted its position in shares of Prologis by 22.4% in the 4th quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust's stock worth $1,254,702,000 after purchasing an additional 2,038,187 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Prologis in the 3rd quarter worth approximately $185,164,000. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PLD. TheStreet upgraded shares of Prologis from a "c+" rating to a "b-" rating in a research report on Friday, January 26th. Royal Bank of Canada boosted their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, February 16th. StockNews.com upgraded shares of Prologis from a "sell" rating to a "hold" rating in a research report on Thursday, December 14th. Scotiabank boosted their price target on shares of Prologis from $134.00 to $143.00 and gave the stock a "sector outperform" rating in a research report on Friday, December 15th. Finally, Mizuho reiterated a "neutral" rating and set a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. 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.com, Prologis has an average rating of "Moderate Buy" and a consensus price target of $141.67.

Prologis Stock Down 4.5 %

Shares of NYSE PLD traded down $5.64 during trading on Wednesday, hitting $120.62. The stock had a trading volume of 4,602,387 shares, compared to its average volume of 3,183,477. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $111.58 billion, a PE ratio of 36.66, a PEG ratio of 2.52 and a beta of 1.00. The firm has a fifty day moving average of $130.39 and a two-hundred day moving average of $122.08.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) 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 the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The business's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.18%. This is a positive change from Prologis's previous quarterly dividend of $0.87. Prologis's dividend payout ratio is presently 116.72%.

Prologis Company Profile

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.