Mackenzie Financial Corp Sells 23,613 Shares of Prologis, Inc. (NYSE:PLD)

Mackenzie Financial Corp reduced its stake in Prologis, Inc. (NYSE:PLD) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,796 shares of the real estate investment trust’s stock after selling 23,613 shares during the quarter. Mackenzie Financial Corp’s holdings in Prologis were worth $16,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLD. RB Capital Management LLC grew its stake in shares of Prologis by 14.7% in the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 385 shares during the last quarter. Blair William & Co. IL grew its position in Prologis by 5.3% during the 1st quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock valued at $3,490,000 after purchasing an additional 1,092 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Prologis by 87.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 1,580 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Prologis by 41.8% in the first quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock worth $38,952,000 after buying an additional 71,112 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in shares of Prologis by 38.8% in the first quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 1.7 %

NYSE:PLD opened at $104.67 on Friday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The business has a fifty day moving average price of $128.45 and a 200-day moving average price of $122.07. The firm has a market capitalization of $96.82 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 2.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. Sell-side analysts forecast that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.67%. Prologis’s dividend payout ratio (DPR) is presently 116.72%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PLD shares. Barclays decreased their price objective on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley upped their price target on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Raymond James lifted their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Robert W. Baird upped their target price on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Mizuho reiterated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 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 (115 million square meters) in 19 countries.