Lecap Asset Management Ltd. Makes New $2.95 Million Investment in Prologis, Inc. (NYSE:PLD)

Lecap Asset Management Ltd. bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 26,422 shares of the real estate investment trust’s stock, valued at approximately $2,954,000. Prologis makes up about 0.7% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis in the fourth quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis in the fourth quarter valued at about $27,000. REAP Financial Group LLC increased its holdings 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 valued at $31,000 after buying an additional 84 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the 4th quarter valued at approximately $34,000. Finally, Promus Capital LLC purchased a new stake in shares of Prologis during the 4th quarter worth approximately $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLD. BMO Capital Markets lowered their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Evercore ISI decreased their target price on Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. Scotiabank raised their price target on Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a research report on Monday, May 12th. Truist Financial cut their price target on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Finally, Royal Bank Of Canada lowered their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Stock Performance

Shares of NYSE PLD opened at $108.20 on Wednesday. The company has a 50-day simple moving average of $106.00 and a 200-day simple moving average of $109.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market cap of $100.40 billion, a PE ratio of 27.05, a price-to-earnings-growth 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 announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping 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 net margin of 44.59% and a return on equity of 6.45%. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Tuesday, June 17th. 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.