Marshall Wace LLP Grows Stake in Prologis, Inc. (NYSE:PLD)

Marshall Wace LLP lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 738,572 shares of the real estate investment trust’s stock after purchasing an additional 63,777 shares during the period. Marshall Wace LLP’s holdings in Prologis were worth $78,067,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Cohen & Steers Inc. grew its holdings in Prologis by 3.2% during 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 purchasing an additional 882,529 shares during the period. Geode Capital Management LLC lifted its position in shares of Prologis by 2.9% during 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 last quarter. FMR LLC grew its stake in shares of Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after acquiring an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock worth $1,754,282,000 after acquiring an additional 334,907 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Prologis by 0.4% in the 4th quarter. Invesco Ltd. now owns 11,577,456 shares of the real estate investment trust’s stock valued at $1,223,737,000 after acquiring an additional 44,702 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 2.0 %

NYSE PLD opened at $100.46 on Thursday. The firm has a market cap of $93.12 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 1-year low of $85.35 and a 1-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. The stock has a 50-day moving average of $112.19 and a 200-day moving average of $113.59.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 4.02%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Analysts Set New Price Targets

PLD has been the subject of several recent research reports. Scotiabank reiterated a “sector underperform” rating and issued a $97.00 target price (down previously from $133.00) on shares of Prologis in a research note on Monday, April 7th. Wolfe Research reduced their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Robert W. Baird increased their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

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.