Prologis, Inc. (NYSE:PLD) Shares Sold by Adelante Capital Management LLC

Adelante Capital Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 94.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,165 shares of the real estate investment trust’s stock after selling 1,421,020 shares during the period. Prologis comprises 0.5% of Adelante Capital Management LLC’s holdings, making the stock its 25th biggest holding. Adelante Capital Management LLC’s holdings in Prologis were worth $11,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Prologis in the second quarter worth approximately $203,223,000. AMF Tjanstepension AB raised its holdings in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares during the period. Federated Hermes Inc. lifted its position in shares of Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after acquiring an additional 1,358,542 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Prologis by 137.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock worth $208,518,000 after purchasing an additional 1,075,614 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley raised their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Wells Fargo & Company upped their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Trading Down 0.9 %

Prologis stock opened at $116.78 on Friday. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company’s fifty day moving average price is $118.70 and its two-hundred day moving average price is $118.74. The company has a market capitalization of $108.16 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 3.44 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 (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for 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 business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. On average, analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid 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 yield of 3.29%. Prologis’s payout ratio is presently 116.01%.

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.