Ramirez Asset Management Inc. Has $772,000 Stake in Prologis, Inc. (NYSE:PLD)

Ramirez Asset Management Inc. trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 5.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,905 shares of the real estate investment trust’s stock after selling 432 shares during the period. Ramirez Asset Management Inc.’s holdings in Prologis were worth $772,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Foundations Investment Advisors LLC lifted its holdings in Prologis by 17.4% in the 1st quarter. Foundations Investment Advisors LLC now owns 3,511 shares of the real estate investment trust’s stock worth $392,000 after purchasing an additional 520 shares during the last quarter. Lazard Freres Gestion S.A.S. boosted its position in Prologis by 136.8% during the first quarter. Lazard Freres Gestion S.A.S. now owns 12,880 shares of the real estate investment trust’s stock worth $1,439,000 after purchasing an additional 7,440 shares during the period. Mackenzie Financial Corp boosted its position in Prologis by 35.6% during the first quarter. Mackenzie Financial Corp now owns 127,223 shares of the real estate investment trust’s stock worth $14,222,000 after purchasing an additional 33,433 shares during the period. Sheaff Brock Investment Advisors LLC boosted its position in Prologis by 2.5% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 83,982 shares of the real estate investment trust’s stock worth $9,388,000 after purchasing an additional 2,076 shares during the period. Finally, Richards Merrill & Peterson Inc. boosted its position in Prologis by 76.8% during the first quarter. Richards Merrill & Peterson Inc. now owns 2,189 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 951 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PLD shares. Barclays decreased their target price on Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Robert W. Baird decreased their target price on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Wall Street Zen cut Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Finally, Evercore ISI cut their price target on Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.74.

Prologis Stock Performance

PLD opened at $107.17 on Tuesday. The stock has a market cap of $99.45 billion, a PE ratio of 29.04, a P/E/G ratio of 2.77 and a beta of 1.23. The company has a current ratio of 0.19, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The stock’s 50 day simple moving average is $107.42 and its 200-day simple moving average is $109.83.

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

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Tuesday, June 17th. Prologis’s dividend payout ratio is presently 109.49%.

About Prologis

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.