First Trust Advisors LP Buys 30,526 Shares of Prologis, Inc. (NYSE:PLD)

First Trust Advisors LP raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,928 shares of the real estate investment trust's stock after acquiring an additional 30,526 shares during the quarter. First Trust Advisors LP's holdings in Prologis were worth $19,970,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLD. Ecofi Investissements SA grew its holdings in Prologis by 44.4% during the fourth quarter. Ecofi Investissements SA now owns 7,800 shares of the real estate investment trust's stock valued at $764,000 after purchasing an additional 2,400 shares during the period. GeoWealth Management LLC lifted its position in shares of Prologis by 18.6% during the 4th quarter. GeoWealth Management LLC now owns 49,976 shares of the real estate investment trust's stock valued at $5,282,000 after buying an additional 7,831 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Prologis by 8.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,977,461 shares of the real estate investment trust's stock worth $208,956,000 after acquiring an additional 149,316 shares during the period. Ally Financial Inc. purchased a new stake in Prologis in the 4th quarter worth about $2,537,000. Finally, Capital Square LLC raised its stake in Prologis by 7.8% in the 4th quarter. Capital Square LLC now owns 16,102 shares of the real estate investment trust's stock valued at $1,702,000 after acquiring an additional 1,162 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

NYSE PLD opened at $102.31 on Friday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a fifty day moving average of $109.48 and a 200-day moving average of $112.52. The company has a market capitalization of $94.84 billion, a P/E ratio of 25.58, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly 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 firm 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%. As a group, equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal 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 3.95%. 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLD. Mizuho cut their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. BTIG Research lowered their target price 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. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Finally, Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.32.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is currently owned by insiders.

Prologis 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.

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.