Prologis, Inc. (NYSE:PLD) Shares Acquired by Alta Advisers Ltd

Alta Advisers Ltd increased its position in shares of Prologis, Inc. (NYSE:PLD) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,059 shares of the real estate investment trust’s stock after purchasing an additional 442 shares during the quarter. Alta Advisers Ltd’s holdings in Prologis were worth $323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Prologis in the fourth quarter worth $951,263,000. Capital Research Global Investors grew its position 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 purchasing an additional 2,500,761 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Prologis during the 4th quarter valued at about $254,876,000. FMR LLC lifted its holdings in shares of Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after buying an additional 1,875,978 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Prologis by 83.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust’s stock valued at $399,528,000 after buying an additional 1,723,129 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the 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 owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on PLD shares. BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Scotiabank reiterated a “sector underperform” rating and issued a $97.00 target price (down from $133.00) on shares of Prologis in a research note on Monday, April 7th. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley lowered their target price on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.32.

Prologis Stock Down 3.3 %

Shares of NYSE PLD opened at $98.68 on Tuesday. The stock has a market cap of $91.47 billion, a PE ratio of 24.67, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a 50-day moving average of $111.02 and a 200 day moving average of $112.96.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal 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. This is a boost 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 annualized dividend and a dividend yield of 4.09%. Prologis’s payout ratio is presently 101.00%.

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.