Bailard Inc. Grows Position in Prologis, Inc. (NYSE:PLD)

Bailard Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,533 shares of the real estate investment trust’s stock after purchasing an additional 296 shares during the quarter. Bailard Inc.’s holdings in Prologis were worth $13,401,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after buying an additional 1,034,211 shares during the period. FMR LLC raised its holdings in shares of Prologis by 1.2% during the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after buying an additional 197,693 shares during the period. Northern Trust Corp grew its stake in Prologis by 0.7% during the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after purchasing an additional 92,036 shares in the last quarter. Principal Financial Group Inc. grew its stake in Prologis by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after purchasing an additional 268,667 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Prologis by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,344,542 shares of the real estate investment trust’s stock valued at $1,048,551,000 after purchasing an additional 121,159 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PLD. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Morgan Stanley raised their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Raymond James raised their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Mizuho restated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group decreased their target price on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $135.41.

Prologis Stock Performance

NYSE:PLD traded down $1.65 during midday trading on Wednesday, reaching $103.18. 4,770,766 shares of the company traded hands, compared to its average volume of 3,472,218. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The firm has a market capitalization of $95.45 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The company has a fifty day moving average price of $126.24 and a 200 day moving average price of $122.03.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.72%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 112.28%.

About Prologis

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.