Arrowstreet Capital Limited Partnership Raises Stock Position in Prologis, Inc. $PLD

Arrowstreet Capital Limited Partnership grew its position in Prologis, Inc. (NYSE:PLD) by 565.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 658,698 shares of the real estate investment trust’s stock after buying an additional 559,732 shares during the period. Arrowstreet Capital Limited Partnership owned 0.07% of Prologis worth $69,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Activest Wealth Management grew its position in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. acquired a new position in shares of Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis during the 1st quarter worth $34,000. Saudi Central Bank purchased a new position in shares of Prologis during the 1st quarter worth $41,000. Finally, Barrett & Company Inc. acquired a new stake in shares of Prologis during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PLD shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prologis in a research note on Monday. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a report on Monday, October 20th. Evercore ISI lifted their target price on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and boosted their target price for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Finally, Wells Fargo & Company upped their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.78.

Prologis Price Performance

PLD stock opened at $128.10 on Friday. The business’s 50-day moving average is $122.76 and its two-hundred day moving average is $113.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $118.99 billion, a P/E ratio of 37.35, a P/E/G ratio of 3.97 and a beta of 1.40. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $130.45.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $1.43 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction on Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 1,621 shares of company stock valued at $198,655. 0.57% of the stock is currently owned by company insiders.

Prologis Company 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.