Farringdon Capital Ltd. Makes New $604,000 Investment in Prologis, Inc. (NYSE:PLD)

Farringdon Capital Ltd. acquired a new stake in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,712 shares of the real estate investment trust’s stock, valued at approximately $604,000.

Several other institutional investors have also added to or reduced their stakes in the business. Empirical Asset Management LLC boosted its position in shares of Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the period. Cardano Risk Management B.V. lifted its holdings in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after acquiring an additional 25,266 shares during the last quarter. Aviva PLC increased its stake in Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock valued at $73,481,000 after acquiring an additional 186,187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Prologis by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after buying an additional 179,880 shares in the last quarter. Finally, Allstate Corp lifted its position in Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock worth $7,877,000 after buying an additional 39,321 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research reports. Scotiabank reaffirmed a “sector underperform” rating and issued a $97.00 price objective (down previously from $133.00) on shares of Prologis in a research note on Monday, April 7th. CJS Securities dropped their price objective on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Morgan Stanley dropped their price target on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday. Mizuho decreased their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.32.

Prologis Stock Performance

Shares of PLD opened at $101.89 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average price is $111.84 and its 200-day moving average price is $113.42. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The stock has a market cap of $94.45 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.96%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by insiders.

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.