Uniplan Investment Counsel Inc. Lowers Position in Prologis, Inc. (NYSE:PLD)

Uniplan Investment Counsel Inc. lowered its position in Prologis, Inc. (NYSE:PLD - Free Report) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,169 shares of the real estate investment trust's stock after selling 4,709 shares during the quarter. Prologis accounts for approximately 2.1% of Uniplan Investment Counsel Inc.'s investment portfolio, making the stock its 13th largest position. Uniplan Investment Counsel Inc.'s holdings in Prologis were worth $22,743,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cohen & Steers Inc. increased its stake in shares of Prologis by 3.2% in the fourth 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 buying an additional 882,529 shares during the period. Geode Capital Management LLC grew its stake in shares of Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after buying an additional 610,251 shares during the period. FMR LLC grew 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 acquiring an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Prologis by 2.1% during the 4th 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 purchasing an additional 334,907 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after buying an additional 2,500,761 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PLD shares. Evercore ISI dropped their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Raymond James restated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. CJS Securities decreased their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Robert W. Baird raised their price objective on Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.32.

Prologis Stock Performance

Shares of NYSE PLD traded down $1.05 during midday trading on Friday, hitting $102.31. The company's stock had a trading volume of 2,828,184 shares, compared to its average volume of 4,148,129. The stock has a fifty day moving average price of $109.48 and a 200 day moving average price of $112.56. The firm has a market capitalization of $94.84 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. On average, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

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

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the business'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 transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company's stock.

About Prologis

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.