Goldman Sachs Group Inc. Boosts Position in Prologis, Inc. (NYSE:PLD)

Goldman Sachs Group Inc. raised its stake in Prologis, Inc. (NYSE:PLD) by 25.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,968,844 shares of the real estate investment trust’s stock after buying an additional 1,226,493 shares during the period. Goldman Sachs Group Inc.’s holdings in Prologis were worth $632,698,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Lindbrook Capital LLC increased its holdings in Prologis by 8.9% during the first quarter. Lindbrook Capital LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 92 shares during the period. Rosenberg Matthew Hamilton raised its stake in Prologis by 7.6% in the first quarter. Rosenberg Matthew Hamilton now owns 1,353 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 95 shares during the last quarter. Garrison Asset Management LLC grew its stake in shares of Prologis by 3.5% during the first quarter. Garrison Asset Management LLC now owns 3,109 shares of the real estate investment trust’s stock worth $330,000 after acquiring an additional 104 shares during the last quarter. JJJ Advisors Inc. boosted its stake in Prologis by 41.8% in the 1st quarter. JJJ Advisors Inc. now owns 356 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 105 shares in the last quarter. Finally, Resources Management Corp CT ADV grew its position in Prologis by 0.4% during the 1st quarter. Resources Management Corp CT ADV now owns 24,111 shares of the real estate investment trust’s stock worth $2,556,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

PLD has been the subject of several research reports. Raymond James started coverage on shares of Prologis in a research note on Friday, April 16th. They set a “strong-buy” rating and a $125.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Prologis from $116.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, June 4th. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating and set a $122.00 price objective for the company. in a research note on Wednesday, April 21st. BTIG Research increased their price target on shares of Prologis from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, April 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Prologis from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $122.25.

NYSE PLD traded down $1.86 during mid-day trading on Friday, reaching $124.42. 49,093 shares of the stock were exchanged, compared to its average volume of 2,694,328. The stock has a market cap of $92.04 billion, a P/E ratio of 68.54, a P/E/G ratio of 4.10 and a beta of 0.73. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.45. The business has a 50 day simple moving average of $115.46. Prologis, Inc. has a 1 year low of $87.93 and a 1 year high of $126.32.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Sunday, April 18th. The real estate investment trust reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. Prologis had a net margin of 29.47% and a return on equity of 3.73%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $992.53 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The company’s revenue was up 16.3% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Tuesday, June 15th. Prologis’s payout ratio is currently 66.32%.

In other Prologis news, Director Lydia H. Kennard sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $118.00, for a total transaction of $1,180,000.00. Following the completion of the sale, the director now directly owns 32,773 shares in the company, valued at approximately $3,867,214. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.87% of the stock is owned by insiders.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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