TCW Group Inc. Grows Position in Prologis, Inc. (NYSE:PLD)

TCW Group Inc. boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 27.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,641 shares of the real estate investment trust's stock after acquiring an additional 15,461 shares during the period. TCW Group Inc.'s holdings in Prologis were worth $9,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PLD. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the second quarter valued at approximately $27,000. American Capital Advisory LLC purchased a new position in Prologis during the 2nd quarter valued at about $26,000. Dunhill Financial LLC lifted its position in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 182 shares during the period. Sunbelt Securities Inc. boosted its stake in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Prologis in the second quarter worth about $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Prologis stock traded down $0.28 during midday trading on Thursday, reaching $111.68. 2,868,243 shares of the company traded hands, compared to its average volume of 3,645,176. 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, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The firm has a market capitalization of $103.44 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The business has a 50 day moving average of $116.88 and a two-hundred day moving average of $119.01.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm earned $1.30 EPS. The business's revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Monday, December 16th. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Raymond James reiterated an "outperform" rating and set a $125.00 target price (down from $130.00) on shares of Prologis in a report on Wednesday. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Wells Fargo & Company increased their target price on Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 28th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Evercore ISI upped their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Prologis has a consensus rating of "Hold" and a consensus target price of $128.88.

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.