Anomaly Capital Management LP Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Anomaly Capital Management LP reduced its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 926,883 shares of the real estate investment trust's stock after selling 18,230 shares during the quarter. Prologis makes up about 2.9% of Anomaly Capital Management LP's holdings, making the stock its 12th largest position. Anomaly Capital Management LP owned about 0.10% of Prologis worth $97,972,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Empirical Asset Management LLC grew its position in Prologis by 339.0% during the fourth 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 period. Cardano Risk Management B.V. boosted its stake in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after acquiring an additional 25,266 shares during the last quarter. Aviva PLC grew its position in shares of Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after acquiring an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Prologis by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after purchasing an additional 179,880 shares during the last quarter. Finally, Allstate Corp raised its holdings in shares of Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after purchasing an additional 39,321 shares during the period. Institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLD. CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Robert W. Baird lifted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Mizuho dropped their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $123.32.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated Wednesday, February 5th. The stock was 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 directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.57% of the company's stock.

Prologis Price Performance

PLD stock traded up $1.87 during mid-day trading on Thursday, hitting $103.35. 4,602,202 shares of the stock were exchanged, compared to its average volume of 4,152,011. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a market capitalization of $95.80 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 2.70 and a beta of 1.20. The business has a fifty day moving average price of $109.86 and a 200 day moving average price of $112.68. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

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

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.