TCW Group Inc. Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

TCW Group Inc. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 12.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,486 shares of the real estate investment trust’s stock after buying an additional 7,536 shares during the quarter. TCW Group Inc.’s holdings in Prologis were worth $7,880,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PLD. REAP Financial Group LLC boosted its stake in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Olde Wealth Management LLC purchased a new position in Prologis in the first quarter worth about $43,000. Cornerstone Planning Group LLC lifted its stake in shares of Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 152 shares in the last quarter. Missouri Trust & Investment Co grew its holdings in shares of Prologis by 59.6% during the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 149 shares during the last quarter. Finally, Bogart Wealth LLC increased its position in shares of Prologis by 56.2% during the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLD. Robert W. Baird lowered their price objective on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. CJS Securities decreased their target price on Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Finally, Royal Bank Of Canada dropped their price target on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $120.74.

Prologis Trading Up 0.5%

Shares of PLD stock opened at $110.23 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.19 and a quick ratio of 0.41. The company has a market cap of $102.29 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.77 and a beta of 1.23. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The firm has a fifty day moving average price of $107.48 and a 200-day moving average price of $109.80.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. Prologis’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Tuesday, June 17th. Prologis’s payout ratio is 109.49%.

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.