MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 5,276 Shares of Prologis, Inc. (NYSE:PLD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Prologis, Inc. (NYSE:PLD) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 131,799 shares of the real estate investment trust’s stock after purchasing an additional 5,276 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Prologis were worth $13,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. Norges Bank bought a new position in Prologis in the 4th quarter worth about $951,263,000. Northern Trust Corp increased its position in shares of Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares during the last quarter. Capital Research Global Investors increased its position in shares of Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Prologis in the 4th quarter worth approximately $254,876,000. Finally, FMR LLC increased its holdings in Prologis by 11.7% in 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 in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PLD. Truist Financial cut their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 5th. BMO Capital Markets lowered their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Mizuho lowered their price target on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Wolfe Research downgraded Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. Finally, Barclays cut their price target on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $121.84.

Prologis Price Performance

Shares of PLD stock opened at $109.09 on Friday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The firm has a market capitalization of $101.23 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock’s 50-day simple moving average is $105.03 and its 200-day simple moving average is $111.16.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a yield of 3.70%. Prologis’s dividend payout ratio is currently 101.00%.

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.