Rafferty Asset Management LLC Sells 9,735 Shares of Prologis, Inc. (NYSE:PLD)

Rafferty Asset Management LLC lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,876 shares of the real estate investment trust's stock after selling 9,735 shares during the quarter. Rafferty Asset Management LLC's holdings in Prologis were worth $12,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cohen & Steers Inc. lifted its holdings in shares of Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after acquiring an additional 882,529 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after acquiring an additional 610,251 shares during the last quarter. FMR LLC lifted its holdings in shares of Prologis by 11.7% in the fourth 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 last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after acquiring an additional 334,907 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after acquiring an additional 4,893,284 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Trading Down 1.7%

Shares of Prologis stock traded down $1.92 on Tuesday, reaching $108.73. 2,689,297 shares of the company's stock were exchanged, compared to its average volume of 4,190,042. The company has a market capitalization of $100.89 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The firm's 50-day moving average is $104.79 and its two-hundred day moving average is $111.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. Sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio is currently 101.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PLD shares. Mizuho lowered 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 raised Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Robert W. Baird lowered their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Finally, Morgan Stanley lowered their price objective on Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.42.

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.