1832 Asset Management L.P. Has $101.70 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

1832 Asset Management L.P. boosted its position in Prologis, Inc. (NYSE:PLD) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 781,018 shares of the real estate investment trust’s stock after buying an additional 41,668 shares during the quarter. 1832 Asset Management L.P.’s holdings in Prologis were worth $101,704,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lockerman Financial Group Inc. raised its holdings in Prologis by 2.0% in the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after acquiring an additional 87 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in Prologis by 11.0% in the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 90 shares in the last quarter. CVA Family Office LLC raised its holdings in Prologis by 21.4% in the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 94 shares in the last quarter. Tiemann Investment Advisors LLC raised its holdings in Prologis by 2.4% in the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after acquiring an additional 100 shares in the last quarter. Finally, Haverford Trust Co raised its holdings in Prologis by 4.7% in the 1st quarter. Haverford Trust Co now owns 2,282 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 1.9 %

Shares of NYSE PLD traded up $2.25 during trading on Friday, reaching $122.68. The company had a trading volume of 3,374,108 shares, compared to its average volume of 3,615,018. The company’s fifty day moving average price is $113.37 and its 200-day moving average price is $119.92. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a market cap of $113.58 billion, a P/E ratio of 35.87, a PEG ratio of 2.85 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.13%. Prologis’s payout ratio is 112.28%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PLD shares. UBS Group dropped their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lowered their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Mizuho lowered their target price on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Finally, Royal Bank of Canada lowered their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $129.67.

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.