Nuveen Asset Management LLC Sells 516,281 Shares of Prologis, Inc. (NYSE:PLD)

Nuveen Asset Management LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 3.7% in the fourth quarter, HoldingsChannel reports. The firm owned 13,340,154 shares of the real estate investment trust’s stock after selling 516,281 shares during the quarter. Nuveen Asset Management LLC’s holdings in Prologis were worth $1,410,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Cohen & Steers Inc. boosted its holdings in shares of Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after buying an additional 882,529 shares during the last quarter. Geode Capital Management LLC raised its position in Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after acquiring an additional 610,251 shares during the period. FMR LLC boosted its stake in shares of Prologis by 11.7% during 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 during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after acquiring an additional 334,907 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 0.5%

Shares of Prologis stock opened at $109.74 on Wednesday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $105.46 and a 200-day moving average price of $111.24. The firm has a market cap of $101.83 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis’s payout ratio is 101.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of several recent research reports. BTIG Research decreased their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. 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 research note on Wednesday, April 30th. Scotiabank upped their target price on shares of Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a report on Monday. Finally, Royal Bank of Canada decreased their price target on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.84.

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.