Prologis, Inc. (NYSE:PLD) is Resolution Capital Ltd’s 8th Largest Position

Resolution Capital Ltd lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,503,328 shares of the real estate investment trust’s stock after acquiring an additional 116,349 shares during the period. Prologis makes up approximately 4.8% of Resolution Capital Ltd’s investment portfolio, making the stock its 8th largest holding. Resolution Capital Ltd owned 0.27% of Prologis worth $264,602,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis during the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in Prologis in the fourth quarter valued at approximately $30,000. Promus Capital LLC acquired a new position in Prologis in the 4th quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new position in Prologis during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

NYSE:PLD opened at $107.42 on Thursday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The stock’s fifty day moving average is $105.21 and its two-hundred day moving average is $111.22. The company has a market capitalization of $99.68 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.70 and a beta of 1.25. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.76%. Prologis’s dividend payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. BMO Capital Markets dropped their price objective on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada lowered 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. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Barclays reduced their price objective on Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Prologis 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.