Generate Investment Management Ltd Reduces Stake in Prologis, Inc. (NYSE:PLD)

Generate Investment Management Ltd lessened its stake in Prologis, Inc. (NYSE:PLD) by 61.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,246 shares of the real estate investment trust’s stock after selling 79,028 shares during the quarter. Generate Investment Management Ltd’s holdings in Prologis were worth $5,505,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. REAP Financial Group LLC increased its position in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 84 shares during the last quarter. Phoenix Financial Ltd. grew its stake in shares of Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock worth $955,000 after acquiring an additional 86 shares during the period. CreativeOne Wealth LLC increased its holdings in Prologis by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock worth $642,000 after acquiring an additional 100 shares during the last quarter. J.Safra Asset Management Corp increased its holdings in Prologis by 22.3% in the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 102 shares during the last quarter. Finally, Focus Financial Network Inc. raised its stake in Prologis by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. Wolfe Research lowered shares of Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. Mizuho dropped their price target on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Royal Bank Of Canada cut their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. Barclays lowered their target price on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, CJS Securities dropped their target price on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.42.

Prologis Stock Up 1.0%

Shares of NYSE PLD opened at $108.20 on Wednesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $106.00 and a 200-day moving average of $109.66. The firm has a market capitalization of $100.40 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.72 and a beta of 1.25. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

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 paid 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 3.73%. Prologis’s dividend payout ratio is presently 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.