GAMMA Investing LLC Sells 1,413 Shares of Prologis, Inc. (NYSE:PLD)

GAMMA Investing LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,970 shares of the real estate investment trust’s stock after selling 1,413 shares during the period. GAMMA Investing LLC’s holdings in Prologis were worth $1,054,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PLD. State Street Corp increased its holdings in shares of Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC grew its position in Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $105.63 on Friday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The business has a 50-day moving average price of $112.13 and a 200 day moving average price of $118.58. The company has a market capitalization of $97.83 billion, a P/E ratio of 31.91, a PEG ratio of 3.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.64%. Prologis’s dividend payout ratio is presently 116.01%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PLD. Raymond James reissued an “outperform” rating and set a $125.00 target price (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Truist Financial reduced their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Scotiabank dropped their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. Evercore ISI upped their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $128.88.

About Prologis

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.