Erste Asset Management GmbH Takes $16.05 Million Position in Prologis, Inc. (NYSE:PLD)

Erste Asset Management GmbH bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the third quarter, Holdings Channel.com reports. The fund bought 127,809 shares of the real estate investment trust’s stock, valued at approximately $16,052,000.

Several other hedge funds have also recently added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Prologis during the 2nd quarter worth $203,223,000. AMF Tjanstepension AB grew its stake in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. Federated Hermes Inc. increased its holdings in Prologis by 326.3% in the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after buying an additional 1,358,542 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Prologis by 137.7% in the second quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock valued at $208,518,000 after buying an additional 1,075,614 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Evercore ISI raised their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.25.

Prologis Stock Down 0.9 %

PLD opened at $116.78 on Monday. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The business has a 50 day moving average price of $118.70 and a two-hundred day moving average price of $118.80. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market cap of $108.16 billion, a PE ratio of 35.28, a P/E/G ratio of 3.41 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share. As a group, research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.29%. Prologis’s dividend payout ratio (DPR) is 116.01%.

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.