Everence Capital Management Inc. Increases Holdings in Prologis, Inc. (NYSE:PLD)

Everence Capital Management Inc. lifted its stake in Prologis, Inc. (NYSE:PLD) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,390 shares of the real estate investment trust’s stock after purchasing an additional 762 shares during the quarter. Everence Capital Management Inc.’s holdings in Prologis were worth $2,367,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after purchasing an additional 194,472 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Prologis by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after buying an additional 317,815 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after buying an additional 441,841 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after buying an additional 8,545,336 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Prologis stock traded up $0.79 during trading hours on Friday, hitting $105.05. 579,588 shares of the stock traded hands, compared to its average volume of 2,339,421. The firm’s 50 day moving average price is $112.13 and its 200-day moving average price is $118.58. The stock has a market capitalization of $97.29 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 3.27 and a beta of 1.07. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last announced 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the business posted $1.30 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.66%. Prologis’s dividend payout ratio is currently 116.01%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. lowered their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Raymond James restated an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Truist Financial cut their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Prologis currently has a consensus rating of “Hold” and a consensus price target of $128.88.

Prologis Company 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.