Prologis, Inc. (NYSE:PLD) Holdings Cut by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. cut its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 32.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,059 shares of the real estate investment trust's stock after selling 59,138 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Prologis were worth $13,007,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PLD. Norges Bank acquired a new position in Prologis during the 4th quarter valued at about $951,263,000. Raymond James Financial Inc. bought a new stake in shares of Prologis during the fourth quarter valued at approximately $254,876,000. FMR LLC boosted its position in shares of Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after buying an additional 1,875,978 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Prologis by 83.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after buying an additional 1,723,129 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in Prologis by 59.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust's stock valued at $272,642,000 after acquiring an additional 964,454 shares during the period. Institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLD. Raymond James restated a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Royal Bank of Canada raised their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research note on Monday, January 27th. Evercore ISI decreased their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday. Finally, BMO Capital Markets dropped their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and a consensus price target of $123.32.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.57% of the company's stock.

Prologis Trading Up 1.6 %

Shares of NYSE:PLD opened at $101.89 on Friday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The firm has a fifty day moving average of $111.44 and a two-hundred day moving average of $113.19. The firm has a market capitalization of $94.45 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last posted 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. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. On average, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.96%. Prologis's dividend payout ratio is 101.00%.

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.

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