Governors Lane LP Makes New Investment in Prologis, Inc. (NYSE:PLD)

Governors Lane LP acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,400 shares of the real estate investment trust’s stock, valued at approximately $7,758,000.

Other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis in the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new position in Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in Prologis during the fourth quarter valued at about $30,000. Whipplewood Advisors LLC acquired a new stake in shares of Prologis in the fourth quarter valued at about $34,000. Finally, Promus Capital LLC acquired a new position in shares of Prologis during the 4th quarter worth about $34,000. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of several research analyst reports. Truist Financial lowered their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada dropped their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 29th. Finally, Barclays cut their price target on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.68.

Prologis Stock Performance

PLD stock opened at $106.97 on Friday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market cap of $99.26 billion, a PE ratio of 26.74, a P/E/G ratio of 2.70 and a beta of 1.25. The business’s 50-day moving average price is $105.95 and its two-hundred day moving average price is $111.43.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. As a group, research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Tuesday, June 17th. Prologis’s dividend payout ratio is 101.00%.

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.