Intech Investment Management LLC Sells 9,753 Shares of Prologis, Inc. (NYSE:PLD)

Intech Investment Management LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 50.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,436 shares of the real estate investment trust's stock after selling 9,753 shares during the period. Intech Investment Management LLC's holdings in Prologis were worth $1,192,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake 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 worth $1,483,594,000 after purchasing an additional 317,815 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust's stock worth $1,377,588,000 after purchasing an additional 167,131 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Prologis by 16.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust's stock worth $767,398,000 after purchasing an additional 958,914 shares in the last quarter. Swedbank AB increased its stake in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust's stock worth $561,805,000 after purchasing an additional 420,687 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Prologis by 12.7% in the second quarter. Canada Pension Plan Investment Board now owns 4,237,322 shares of the real estate investment trust's stock worth $475,894,000 after purchasing an additional 477,785 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Trading Up 1.4 %

Shares of PLD traded up $1.64 during mid-day trading on Wednesday, reaching $117.81. The company's stock had a trading volume of 2,655,014 shares, compared to its average volume of 3,654,742. The stock has a market cap of $109.11 billion, a PE ratio of 35.09, a P/E/G ratio of 3.45 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company's fifty day moving average price is $119.27 and its two-hundred day moving average price is $118.61.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 EPS. On average, analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.26%. Prologis's payout ratio is currently 116.01%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLD. Truist Financial boosted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research note on Monday, August 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Wells Fargo & Company boosted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research note on Wednesday, August 28th. Morgan Stanley boosted their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Finally, Scotiabank dropped their target price on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.25.

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.