Nekton Capital Ltd. Invests $4.90 Million in Prologis, Inc. (NYSE:PLD)

Nekton Capital Ltd. bought a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 46,380 shares of the real estate investment trust's stock, valued at approximately $4,902,000. Prologis accounts for approximately 12.9% of Nekton Capital Ltd.'s holdings, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cohen & Steers Inc. lifted its holdings in shares of Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after purchasing an additional 882,529 shares in the last quarter. Geode Capital Management LLC raised its holdings in Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after buying an additional 610,251 shares during the period. FMR LLC lifted its stake in Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after buying an additional 334,907 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after acquiring an additional 2,500,761 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.57% of the company's stock.

Prologis Stock Performance

Shares of PLD traded down $1.05 during mid-day trading on Friday, reaching $102.31. The company's stock had a trading volume of 2,828,184 shares, compared to its average volume of 4,148,128. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market cap of $94.84 billion, a P/E ratio of 25.58, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The business has a 50-day simple moving average of $109.86 and a two-hundred day simple moving average of $112.68.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate 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 anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.95%. Prologis's dividend payout ratio (DPR) is 101.00%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PLD. UBS Group upped their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price objective on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a report on Monday, January 27th. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. BNP Paribas raised Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Finally, Scotiabank reiterated a "sector underperform" rating and issued a $97.00 price objective (down from $133.00) on shares of Prologis in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $123.32.

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.