Bridgewater Associates LP Purchases 4,966 Shares of Prologis, Inc. (NYSE:PLD)

Bridgewater Associates LP increased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 185.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,642 shares of the real estate investment trust's stock after purchasing an additional 4,966 shares during the period. Bridgewater Associates LP's holdings in Prologis were worth $808,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Prologis in the 4th quarter valued at $951,263,000. Raymond James Financial Inc. acquired a new position in Prologis in the fourth quarter worth about $254,876,000. FMR LLC lifted its stake in Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after purchasing an additional 1,723,129 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Prologis by 59.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust's stock valued at $272,642,000 after purchasing an additional 964,454 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 1.6 %

PLD opened at $101.89 on Friday. The firm has a 50 day simple moving average of $111.44 and a 200 day simple moving average of $113.19. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a market cap of $94.45 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

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

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLD. BMO Capital Markets lowered their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.32.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.