Guidance Capital Inc. Increases Holdings in Prologis, Inc. (NYSE:PLD)

Guidance Capital Inc. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 12.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,637 shares of the real estate investment trust’s stock after purchasing an additional 624 shares during the period. Guidance Capital Inc.’s holdings in Prologis were worth $596,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PLD. AMF Tjanstepension AB increased its holdings in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares during the period. Czech National Bank increased its holdings in shares of Prologis by 6.9% in the third quarter. Czech National Bank now owns 188,618 shares of the real estate investment trust’s stock worth $23,819,000 after purchasing an additional 12,190 shares during the period. GAMMA Investing LLC raised its position in shares of Prologis by 27.2% in the third quarter. GAMMA Investing LLC now owns 11,383 shares of the real estate investment trust’s stock worth $1,437,000 after buying an additional 2,434 shares in the last quarter. Everpar Advisors LLC purchased a new position in Prologis during the third quarter worth about $218,000. Finally, Miracle Mile Advisors LLC increased its stake in Prologis by 12.1% in the 3rd quarter. Miracle Mile Advisors LLC now owns 16,960 shares of the real estate investment trust’s stock worth $2,142,000 after acquiring an additional 1,831 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD opened at $118.38 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $109.64 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a 50-day moving average price of $111.02 and a 200-day moving average price of $118.33.

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 issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.24%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent analyst reports. Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. decreased their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Scotiabank reduced their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis 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.