Geode Capital Management LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Geode Capital Management LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,761,980 shares of the real estate investment trust's stock after buying an additional 194,472 shares during the quarter. Geode Capital Management LLC owned about 2.24% of Prologis worth $2,612,395,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its holdings in Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock valued at $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust's stock valued at $1,483,594,000 after purchasing an additional 317,815 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Prologis by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust's stock valued at $1,377,588,000 after acquiring an additional 167,131 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust's stock valued at $1,291,743,000 after buying an additional 441,841 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

PLD traded down $2.27 on Tuesday, reaching $113.15. The company had a trading volume of 2,826,074 shares, compared to its average volume of 3,651,628. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52. The stock has a market capitalization of $104.80 billion, a PE ratio of 34.18, a P/E/G ratio of 3.27 and a beta of 1.07. The stock has a 50-day moving average price of $117.35 and a 200-day moving average price of $119.00.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. As a group, research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. Prologis's payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of recent analyst reports. Scotiabank dropped their price target on shares of Prologis from $136.00 to $134.00 and set a "sector outperform" rating for the company in a research report on Wednesday, December 4th. Morgan Stanley boosted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Evercore ISI raised their price target on shares of Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company upped their price objective on Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $130.13.

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.