Intech Investment Management LLC Has $1.19 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Intech Investment Management LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 50.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,436 shares of the real estate investment trust’s stock after selling 9,753 shares during the period. Intech Investment Management LLC’s holdings in Prologis were worth $1,192,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB grew its stake in shares of Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after buying an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares in the last quarter. Sunflower Bank N.A. bought a new position in shares of Prologis during the 3rd quarter valued at $249,000. Cetera Advisors LLC lifted its stake in shares of Prologis by 118.7% in the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after purchasing an additional 20,623 shares during the last quarter. Finally, Abundance Wealth Counselors bought a new stake in Prologis in the second quarter worth $973,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 1.6 %

Shares of PLD opened at $116.16 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $119.27 and a two-hundred day moving average price of $118.61. The stock has a market cap of $107.58 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 3.05 and a beta of 1.08. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly 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 company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the firm earned $1.30 EPS. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.31%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analyst Ratings Changes

Several equities analysts have weighed in on PLD shares. JPMorgan Chase & Co. reduced their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Scotiabank reduced their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company increased their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Finally, Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.