Adage Capital Partners GP L.L.C. Buys 63,200 Shares of Prologis, Inc. (NYSE:PLD)

Adage Capital Partners GP L.L.C. boosted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 779,100 shares of the real estate investment trust's stock after acquiring an additional 63,200 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.08% of Prologis worth $82,351,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis in the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the 4th quarter worth $30,000. Whipplewood Advisors LLC bought a new position in Prologis in the 4th quarter worth $34,000. Finally, Promus Capital LLC bought a new position in Prologis in the 4th quarter worth $34,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PLD shares. UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Evercore ISI decreased their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Scotiabank reaffirmed a "sector underperform" rating and issued a $97.00 target price (down from $133.00) on shares of Prologis in a report on Monday, April 7th. Finally, BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $123.32.

Prologis Trading Up 1.2 %

Shares of NYSE:PLD traded up $1.19 during trading on Monday, reaching $103.43. The company's stock had a trading volume of 3,148,716 shares, compared to its average volume of 4,144,570. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The firm's 50 day simple moving average is $109.48 and its two-hundred day simple moving average is $112.48. The stock has a market capitalization of $95.88 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. On average, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.91%. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is presently 101.00%.

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.