Prologis, Inc. (NYSE:PLD) Shares Sold by Brookfield Corp ON

Posted by Defense World Staff on Sep 12th, 2023

Prologis logo Brookfield Corp ON trimmed its stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 11.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,788,634 shares of the real estate investment trust’s stock after selling 222,749 shares during the quarter. Prologis comprises 0.9% of Brookfield Corp ON’s investment portfolio, making the stock its 15th biggest holding. Brookfield Corp ON owned 0.19% of Prologis worth $223,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Prologis in the 4th quarter valued at approximately $980,759,000. Morgan Stanley grew its position 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 purchasing an additional 4,729,040 shares during the period. Geode Capital Management LLC grew its position in shares of Prologis by 25.3% in the fourth quarter. Geode Capital Management LLC now owns 18,105,281 shares of the real estate investment trust’s stock valued at $2,037,162,000 after purchasing an additional 3,653,101 shares during the period. Moneta Group Investment Advisors LLC purchased a new stake in shares of Prologis in the fourth quarter valued at $232,205,000. Finally, Legal & General Group Plc grew its position in shares of Prologis by 22.4% in the fourth quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust’s stock valued at $1,254,702,000 after purchasing an additional 2,038,187 shares during the period. 90.90% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 0.3 %

Shares of PLD opened at $122.16 on Tuesday. The stock’s 50-day moving average is $123.73 and its two-hundred day moving average is $122.81. The stock has a market cap of $112.86 billion, a PE ratio of 32.15, a P/E/G ratio of 2.46 and a beta of 0.98. Prologis, Inc. has a 12 month low of $98.03 and a 12 month high of $136.67. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34.

Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $1.83 EPS for the quarter, topping the consensus estimate of $1.68 by $0.15. Prologis had a return on equity of 6.17% and a net margin of 42.52%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. The company’s revenue was up 95.8% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 5.59 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, September 15th. Prologis’s dividend payout ratio (DPR) is 91.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLD. StockNews.com began coverage on Prologis in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $128.00 price objective on shares of Prologis in a research report on Thursday, July 20th. 888 reaffirmed a “maintains” rating on shares of Prologis in a research report on Wednesday, June 28th. BNP Paribas upgraded Prologis from a “neutral” rating to an “outperform” rating and set a $141.00 target price on the stock in a report on Thursday, July 20th. Finally, Barclays reduced their target price on Prologis from $160.00 to $159.00 in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.65.

Get Our Latest Research Report on PLD

Insider Buying and Selling

In related news, Director George L. Fotiades sold 10,711 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $123.98, for a total value of $1,327,949.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Company Profile

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 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 (114 million square meters) in 19 countries.