Xponance Inc. Grows Holdings in Prologis, Inc. (NYSE:PLD)

Xponance Inc. grew its stake in Prologis, Inc. (NYSE:PLD) by 6.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 136,289 shares of the real estate investment trust’s stock after acquiring an additional 8,138 shares during the period. Xponance Inc.’s holdings in Prologis were worth $18,167,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thompson Investment Management Inc. acquired a new position in shares of Prologis in the fourth quarter valued at approximately $28,000. FinTrust Capital Advisors LLC grew its holdings in shares of Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Fairfield Bush & CO. acquired a new position in shares of Prologis in the second quarter valued at approximately $35,000. Qube Research & Technologies Ltd grew its holdings in shares of Prologis by 102.4% in the third quarter. Qube Research & Technologies Ltd now owns 318 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 13,518 shares in the last quarter. Finally, Salem Investment Counselors Inc. acquired a new position in shares of Prologis in the fourth quarter valued at approximately $37,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 1.7 %

Prologis stock traded down $1.80 during mid-day trading on Thursday, hitting $104.69. The stock had a trading volume of 5,983,958 shares, compared to its average volume of 3,390,960. The stock has a 50-day simple moving average of $128.99 and a two-hundred day simple moving average of $122.19. The stock has a market capitalization of $96.84 billion, a PE ratio of 31.56, a P/E/G ratio of 2.29 and a beta of 1.00. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm earned $1.24 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.67%. Prologis’s payout ratio is presently 116.72%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLD. Evercore ISI lowered their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Mizuho reaffirmed a “neutral” rating and set a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. Royal Bank of Canada increased their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Raymond James increased their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.