Eagle Asset Management Inc. Has $105.49 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Eagle Asset Management Inc. cut its stake in Prologis, Inc. (NYSE:PLD) by 6.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 910,760 shares of the real estate investment trust’s stock after selling 61,908 shares during the quarter. Eagle Asset Management Inc.’s holdings in Prologis were worth $105,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Prologis by 2.5% during the 2nd 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 buying an additional 317,815 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Prologis by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after buying an additional 167,131 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after buying an additional 441,841 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Prologis by 16.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock worth $767,398,000 after buying an additional 958,914 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Prologis by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,126,318 shares of the real estate investment trust’s stock worth $797,767,000 after buying an additional 340,948 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Down 0.5 %

Shares of Prologis stock opened at $113.97 on Friday. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50-day moving average is $120.04 and its 200 day moving average is $118.24. The firm has a market cap of $105.56 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 3.03 and a beta of 1.08.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.37%. Prologis’s payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PLD shares. Scotiabank lowered their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis 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.