Prologis, Inc. (NYSE:PLD) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 18.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 95,154 shares of the real estate investment trust’s stock after selling 20,989 shares during the period. Gotham Asset Management LLC’s holdings in Prologis were worth $10,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Governors Lane LP acquired a new position in shares of Prologis during the fourth quarter worth approximately $7,758,000. Ground Swell Capital LLC acquired a new position in shares of Prologis during the fourth quarter worth approximately $252,000. Focus Partners Wealth boosted its position in shares of Prologis by 23.6% during the fourth quarter. Focus Partners Wealth now owns 92,045 shares of the real estate investment trust’s stock worth $9,807,000 after buying an additional 17,576 shares during the period. Ethic Inc. boosted its position in shares of Prologis by 12.1% during the fourth quarter. Ethic Inc. now owns 92,056 shares of the real estate investment trust’s stock worth $9,730,000 after buying an additional 9,915 shares during the period. Finally, First Manhattan CO. LLC. boosted its position in shares of Prologis by 120.9% during the fourth quarter. First Manhattan CO. LLC. now owns 12,095 shares of the real estate investment trust’s stock worth $1,278,000 after buying an additional 6,619 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Scotiabank reiterated a “sector underperform” rating and set a $97.00 price objective (down from $133.00) on shares of Prologis in a research report on Monday, April 7th. CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Barclays reduced their price objective on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, BTIG Research cut their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $121.68.

Prologis Price Performance

Shares of NYSE:PLD opened at $106.97 on Monday. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The stock has a fifty day moving average of $105.95 and a 200-day moving average of $111.30. The company has a market capitalization of $99.26 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.78%. Prologis’s payout ratio is currently 101.00%.

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.