Prologis, Inc. (NYSE:PLD) Short Interest Update

Prologis, Inc. (NYSE:PLD - Get Free Report) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 9,700,000 shares, a drop of 23.7% from the December 31st total of 12,720,000 shares. Based on an average trading volume of 4,250,000 shares, the short-interest ratio is presently 2.3 days.

Institutional Investors Weigh In On Prologis

A number of institutional investors and hedge funds have recently made changes to their positions in PLD. Empirical Asset Management LLC increased its stake in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock worth $7,249,000 after acquiring an additional 52,963 shares during the last quarter. Sunflower Bank N.A. bought a new position in shares of Prologis in the third quarter worth approximately $249,000. Cardano Risk Management B.V. raised its stake in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Coronation Fund Managers Ltd. bought a new stake in Prologis during the second quarter valued at approximately $878,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust's stock worth $149,116,000 after buying an additional 29,400 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PLD shares. Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Raymond James restated an "outperform" rating and issued a $125.00 target price (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Finally, BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $128.78.

Prologis Price Performance

Shares of PLD stock traded down $1.51 during trading hours on Friday, reaching $119.14. The stock had a trading volume of 3,753,660 shares, compared to its average volume of 4,551,953. The stock's fifty day simple moving average is $110.96 and its 200 day simple moving average is $118.44. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $110.34 billion, a PE ratio of 29.78, a PEG ratio of 2.66 and a beta of 1.09. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. Prologis's payout ratio is currently 96.00%.

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.