Prologis, Inc. (NYSE:PLD) is Makena Capital Management LLC’s 10th Largest Position

Makena Capital Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,095 shares of the real estate investment trust’s stock after selling 2,268 shares during the period. Prologis makes up 3.0% of Makena Capital Management LLC’s portfolio, making the stock its 10th biggest position. Makena Capital Management LLC’s holdings in Prologis were worth $12,640,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Semmax Financial Advisors Inc. acquired a new position in Prologis during the 2nd quarter worth approximately $27,000. American Capital Advisory LLC purchased a new stake in shares of Prologis during the second quarter worth about $26,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. raised its position in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis during the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLD. Truist Financial boosted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Scotiabank dropped their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company upped their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $131.18.

Prologis Price Performance

NYSE PLD opened at $114.54 on Thursday. The firm has a market capitalization of $106.08 billion, a PE ratio of 34.60, a P/E/G ratio of 3.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company’s 50 day simple moving average is $120.36 and its 200 day simple moving average is $118.27.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. Prologis’s payout ratio is currently 116.01%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

About Prologis

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.