M&G Plc Takes Position in Prologis, Inc. (NYSE:PLD)

M&G Plc acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,910 shares of the real estate investment trust’s stock, valued at approximately $378,000.

Other institutional investors have also recently made changes to their positions in the company. Banco Santander S.A. acquired a new stake in shares of Prologis in the 1st quarter worth about $470,000. Sentry Investment Management LLC grew its position in shares of Prologis by 11.4% during the 1st quarter. Sentry Investment Management LLC now owns 5,395 shares of the real estate investment trust’s stock valued at $703,000 after acquiring an additional 552 shares during the period. Nwam LLC grew its position in shares of Prologis by 49.9% during the 1st quarter. Nwam LLC now owns 2,827 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 941 shares during the period. Banco BTG Pactual S.A. bought a new position in shares of Prologis during the 1st quarter valued at approximately $558,000. Finally, Great Lakes Retirement Inc. grew its position in shares of Prologis by 4.7% during the 1st quarter. Great Lakes Retirement Inc. now owns 5,462 shares of the real estate investment trust’s stock valued at $711,000 after acquiring an additional 246 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 0.9 %

NYSE:PLD traded up $1.13 during trading hours on Friday, reaching $123.75. The company’s stock had a trading volume of 3,485,201 shares, compared to its average volume of 3,529,909. The firm has a market capitalization of $114.57 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 2.93 and a beta of 1.06. The firm has a 50-day simple moving average of $111.97 and a 200-day simple moving average of $120.20. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.10.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS. Research analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s payout ratio is 112.28%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLD. BMO Capital Markets reissued a “market perform” rating and set a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Robert W. Baird cut their price objective on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Barclays cut their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. UBS Group cut their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Scotiabank cut their price objective on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

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.