Davis Selected Advisers Buys 68,940 Shares of Prologis, Inc. $PLD

Davis Selected Advisers raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 53.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 198,166 shares of the real estate investment trust’s stock after buying an additional 68,940 shares during the period. Davis Selected Advisers’ holdings in Prologis were worth $22,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirabella Financial Services LLP boosted its position in Prologis by 154.3% in the third quarter. Mirabella Financial Services LLP now owns 17,738 shares of the real estate investment trust’s stock worth $2,027,000 after purchasing an additional 10,762 shares during the last quarter. Hudson Bay Capital Management LP grew its stake in shares of Prologis by 128.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 3,882 shares of the real estate investment trust’s stock valued at $445,000 after purchasing an additional 17,431 shares during the period. Allworth Financial LP increased its position in shares of Prologis by 2.2% during the 3rd quarter. Allworth Financial LP now owns 234,768 shares of the real estate investment trust’s stock valued at $26,886,000 after purchasing an additional 5,071 shares during the last quarter. IFP Advisors Inc increased its position in shares of Prologis by 8.7% during the 3rd quarter. IFP Advisors Inc now owns 4,816 shares of the real estate investment trust’s stock valued at $552,000 after purchasing an additional 384 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its stake in shares of Prologis by 19.6% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 172,836 shares of the real estate investment trust’s stock worth $19,793,000 after purchasing an additional 28,349 shares during the period. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BTIG Research raised their price objective on shares of Prologis from $134.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 31st. Truist Financial decreased their price target on shares of Prologis from $142.00 to $139.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. BMO Capital Markets reiterated a “market perform” rating and set a $123.00 price target on shares of Prologis in a research note on Thursday, January 22nd. Jefferies Financial Group boosted their price objective on shares of Prologis from $146.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, BNP Paribas Exane upped their price objective on Prologis from $129.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.20.

Prologis Trading Down 1.5%

Shares of NYSE:PLD opened at $131.20 on Thursday. The stock has a 50 day moving average of $134.79 and a 200 day moving average of $126.68. The company has a market cap of $121.96 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 3.15 and a beta of 1.41. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $143.95. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, January 21st. The real estate investment trust reported $1.44 EPS for the quarter, hitting analysts’ consensus estimates of $1.44. Prologis had a net margin of 37.86% and a return on equity of 5.79%. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business earned $1.42 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Prologis’s previous quarterly dividend of $1.01. Prologis’s payout ratio is 120.56%.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.