Pinebridge Investments L.P. Has $19.74 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Pinebridge Investments L.P. lessened its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 186,773 shares of the real estate investment trust's stock after selling 7,789 shares during the quarter. Pinebridge Investments L.P.'s holdings in Prologis were worth $19,742,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PLD. Norges Bank purchased a new position in shares of Prologis in the 4th quarter valued at $951,263,000. Capital Research Global Investors increased its stake in Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after buying an additional 2,500,761 shares during the period. Raymond James Financial Inc. purchased a new stake in Prologis during the 4th quarter worth $254,876,000. FMR LLC grew its holdings in 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 in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in 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 worth $399,528,000 after acquiring an additional 1,723,129 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Morgan Stanley decreased their price objective on shares of Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Royal Bank of Canada raised their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average target price of $123.32.

Prologis Stock Performance

PLD traded down $0.36 during trading hours on Tuesday, hitting $102.96. The company's stock had a trading volume of 715,519 shares, compared to its average volume of 4,131,082. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $95.44 billion, a PE ratio of 25.73, a PEG ratio of 2.70 and a beta of 1.20. The company has a 50-day simple moving average of $109.11 and a 200 day simple moving average of $112.36.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.99 billion. As a group, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.92%. Prologis's dividend payout ratio (DPR) is 101.00%.

Insider Activity

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

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.