Acadian Asset Management LLC Trims Stake in Prologis, Inc. (NYSE:PLD) (2024)

Acadian Asset Management LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 13.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,138 shares of the real estate investment trust's stock after selling 5,583 shares during the quarter. Acadian Asset Management LLC's holdings in Prologis were worth $4,574,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust's stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC increased its stake in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust's stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust's stock worth $1,670,621,000 after acquiring an additional 365,904 shares during the last quarter. Principal Financial Group Inc. increased its stake in Prologis by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust's stock worth $1,642,997,000 after acquiring an additional 123,902 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust's stock worth $1,268,992,000 after acquiring an additional 175,276 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLD. Barclays reduced their price objective on Prologis from $135.00 to $123.00 and set an "overweight" rating on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an "overweight" rating on the stock in a research note on Thursday, April 25th. UBS Group reduced their price objective on Prologis from $151.00 to $138.00 and set a "buy" rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets reiterated a "market perform" rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Finally, Argus lifted their target price on Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.60.

Check Out Our Latest Analysis on Prologis

Prologis Trading Down 0.8 %

PLD traded down $1.00 during trading hours on Tuesday, reaching $125.66. 3,708,180 shares of the company's stock traded hands, compared to its average volume of 3,759,919. The firm has a 50-day moving average price of $112.35 and a 200 day moving average price of $120.10. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $116.34 billion, a PE ratio of 36.67, a PEG ratio of 2.93 and a beta of 1.06.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the company posted $1.83 earnings per share. Prologis's quarterly revenue was down 18.1% compared to the same quarter last year. As a group, sell-side analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Monday, June 17th. Prologis's dividend payout ratio is 112.28%.

Prologis Company Profile

(Free Report)

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.

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