Lord Abbett & CO. LLC Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Lord Abbett & CO. LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 43.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,233 shares of the real estate investment trust's stock after buying an additional 88,055 shares during the quarter. Lord Abbett & CO. LLC's holdings in Prologis were worth $36,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Prologis by 534.7% in the 3rd 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock valued at $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis in the second quarter worth about $203,223,000. AMF Tjanstepension AB boosted its stake in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after buying an additional 1,365,811 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock valued at $199,343,000 after buying an additional 1,358,542 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Trading Down 0.5 %

PLD traded down $0.52 during trading on Friday, hitting $111.13. 4,741,290 shares of the stock were exchanged, compared to its average volume of 3,649,725. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a 50 day simple moving average of $116.44 and a 200 day simple moving average of $119.10. The firm has a market cap of $102.93 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 3.27 and a beta of 1.07. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

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

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.46%. The ex-dividend date is Monday, December 16th. Prologis's dividend payout ratio is currently 116.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLD. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Wells Fargo & Company increased their price target on shares of Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a report on Wednesday, August 28th. Finally, Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Prologis has an average rating of "Hold" and a consensus target price of $128.88.

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.