Brooklyn Investment Group Has $442,000 Position in Prologis, Inc. (NYSE:PLD)

Brooklyn Investment Group decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 12.1% in the 4th quarter, HoldingsChannel reports. The firm owned 4,182 shares of the real estate investment trust’s stock after selling 578 shares during the period. Brooklyn Investment Group’s holdings in Prologis were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Empirical Asset Management LLC grew its stake in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares during the last quarter. Sunflower Bank N.A. acquired a new stake in Prologis during the 3rd quarter worth approximately $249,000. Cardano Risk Management B.V. lifted its holdings in 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 purchasing an additional 25,266 shares during the last quarter. Coronation Fund Managers Ltd. bought a new stake in Prologis in the 2nd quarter valued at $878,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after buying an additional 29,400 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Shares of PLD stock opened at $109.51 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The firm has a 50 day moving average of $110.47 and a 200-day moving average of $118.31. The company has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09.

Prologis (NYSE:PLD) last posted its quarterly earnings results 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. On average, equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.51%. Prologis’s payout ratio is currently 116.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PLD shares. Scotiabank dropped their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Barclays boosted their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Raymond James restated an “outperform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.67.

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.