UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 8,545,336 Shares of Prologis, Inc. (NYSE:PLD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 534.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,143,554 shares of the real estate investment trust's stock after buying an additional 8,545,336 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.10% of Prologis worth $1,280,928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Swedbank AB boosted 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 valued at $561,805,000 after buying an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock worth $18,305,000 after purchasing an additional 43,235 shares in the last quarter. Sunflower Bank N.A. bought a new position in Prologis in the 3rd quarter valued at approximately $249,000. Cetera Advisors LLC boosted its position in Prologis by 118.7% in the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust's stock valued at $4,947,000 after buying an additional 20,623 shares in the last quarter. Finally, Abundance Wealth Counselors bought a new stake in shares of Prologis during the second quarter worth $973,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank of Canada downgraded Prologis from an "outperform" rating to a "sector perform" rating and raised their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research note on Monday, August 5th. JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Finally, Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and an average price target of $131.25.

Prologis Trading Up 1.4 %

Shares of Prologis stock traded up $1.63 on Thursday, hitting $117.80. 2,655,068 shares of the company's stock traded hands, compared to its average volume of 3,654,742. The company has a fifty day moving average of $119.09 and a two-hundred day moving average of $118.61. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a market capitalization of $109.10 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

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

Prologis Dividend Announcement

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

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.