Fmr LLC Has $2.02 Billion Holdings in Prologis, Inc. (NYSE:PLD)

Fmr LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 1.3% during the third quarter, Holdings Channel.com reports. The firm owned 16,002,419 shares of the real estate investment trust’s stock after selling 209,601 shares during the period. Fmr LLC’s holdings in Prologis were worth $2,020,786,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PLD. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the 2nd quarter valued at $27,000. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter valued at approximately $26,000. Central Valley Advisors LLC bought a new stake in Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. boosted its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter valued at approximately $31,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

Prologis stock opened at $116.16 on Wednesday. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The firm’s fifty day moving average price is $119.27 and its 200-day moving average price is $118.61. The stock has a market cap of $107.58 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last issued its quarterly earnings results 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). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. On average, equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.31%. Prologis’s payout ratio is 116.01%.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research reports. Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Wells Fargo & Company increased their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Truist Financial boosted their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

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.