Prologis, Inc. (NYSE:PLD) Holdings Reduced by Sentry Investment Management LLC

Sentry Investment Management LLC decreased its position in Prologis, Inc. (NYSE:PLD) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,843 shares of the real estate investment trust’s stock after selling 520 shares during the period. Sentry Investment Management LLC’s holdings in Prologis were worth $646,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prologis by 6.7% in the third 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 acquiring an additional 1,034,211 shares in the last quarter. FMR LLC boosted its holdings in shares of Prologis by 1.2% in the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after acquiring an additional 197,693 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after acquiring an additional 4,729,040 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Prologis by 0.7% in the third 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 acquiring an additional 92,036 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Prologis by 2.3% in the third 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 acquiring an additional 268,667 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 2.2 %

PLD stock traded down $2.60 during midday trading on Monday, reaching $116.40. The company had a trading volume of 1,633,159 shares, compared to its average volume of 3,182,838. Prologis, Inc. has a 1 year low of $96.64 and a 1 year 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. The company has a market capitalization of $107.68 billion, a P/E ratio of 35.71, a PEG ratio of 2.38 and a beta of 1.00. The company has a 50 day moving average of $129.98 and a two-hundred day moving average of $122.26.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 EPS. On average, equities research analysts expect that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date of this dividend 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 yield of 3.30%. Prologis’s dividend payout ratio (DPR) is presently 116.72%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. 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 report on Friday, February 16th. Mizuho restated a “neutral” rating and set a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. Morgan Stanley raised their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Raymond James raised their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Finally, Evercore ISI restated an “in-line” rating and set a $136.00 target price on shares of Prologis in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.67.

Prologis 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.