Sarasin & Partners LLP Acquires 2,814 Shares of Prologis, Inc. (NYSE:PLD)

Sarasin & Partners LLP raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 936,862 shares of the real estate investment trust’s stock after buying an additional 2,814 shares during the period. Prologis makes up approximately 1.1% of Sarasin & Partners LLP’s portfolio, making the stock its 26th largest position. Sarasin & Partners LLP’s holdings in Prologis were worth $99,026,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Coronation Fund Managers Ltd. acquired a new stake in Prologis during the 2nd quarter valued at $878,000. Edgestream Partners L.P. bought a new position in Prologis in the second quarter valued at about $241,000. Blair William & Co. IL grew its holdings in shares of Prologis by 6.1% during the second quarter. Blair William & Co. IL now owns 30,965 shares of the real estate investment trust’s stock worth $3,478,000 after purchasing an additional 1,779 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Prologis by 1.2% in the second quarter. Ieq Capital LLC now owns 31,660 shares of the real estate investment trust’s stock worth $3,556,000 after acquiring an additional 380 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Prologis by 81.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 14,750 shares of the real estate investment trust’s stock worth $1,656,000 after acquiring an additional 6,611 shares during the period. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent analyst reports. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. dropped their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $124.00 to $123.00 in a research note on Monday, January 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Trading Down 1.3 %

Shares of Prologis stock opened at $109.51 on Monday. The stock has a fifty day simple moving average of $110.34 and a 200 day simple moving average of $118.33. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a market capitalization of $101.43 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.51%. Prologis’s dividend payout ratio (DPR) is presently 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.