World Investment Advisors LLC Takes $989,000 Position in Prologis, Inc. (NYSE:PLD)

World Investment Advisors LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,831 shares of the real estate investment trust's stock, valued at approximately $989,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its holdings in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock valued at $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust's stock worth $2,612,395,000 after purchasing an additional 194,472 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust's stock valued at $1,483,594,000 after purchasing an additional 317,815 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust's stock worth $1,377,588,000 after purchasing an additional 167,131 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Prologis by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust's stock worth $1,291,743,000 after acquiring an additional 441,841 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLD. Scotiabank lowered their price target on shares of Prologis from $136.00 to $134.00 and set a "sector outperform" rating on the stock in a report on Wednesday, December 4th. BMO Capital Markets lowered Prologis from a "market perform" rating to an "underperform" rating and lowered their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Truist Financial decreased their price objective on shares of Prologis from $137.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, December 5th. 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 note on Monday, October 21st. Finally, Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $128.88.

Prologis Stock Performance

Shares of NYSE:PLD traded down $1.29 during trading on Monday, hitting $108.87. 5,383,077 shares of the company traded hands, compared to its average volume of 3,657,727. The business's fifty day moving average is $116.44 and its 200-day moving average is $119.20. Prologis, Inc. has a one year low of $101.11 and a one year high of $135.76. The stock has a market capitalization of $100.83 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 3.27 and a beta of 1.07. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. Prologis's quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal 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 given a $0.96 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.53%. Prologis's dividend 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.