Freedom Investment Management Inc. Has $767,000 Position in Prologis, Inc. (NYSE:PLD)

Freedom Investment Management Inc. lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,254 shares of the real estate investment trust’s stock after selling 149 shares during the quarter. Freedom Investment Management Inc.’s holdings in Prologis were worth $767,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cohen & Steers Inc. boosted its holdings in Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock valued at $2,994,557,000 after purchasing an additional 882,529 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock valued at $2,252,853,000 after acquiring an additional 610,251 shares in the last quarter. FMR LLC grew its position in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after acquiring an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Prologis by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock worth $1,754,282,000 after purchasing an additional 334,907 shares in the last quarter. Finally, Invesco Ltd. raised its position in Prologis by 0.4% in the fourth quarter. Invesco Ltd. now owns 11,577,456 shares of the real estate investment trust’s stock valued at $1,223,737,000 after purchasing an additional 44,702 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE:PLD opened at $101.89 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The business has a fifty day simple moving average of $111.44 and a two-hundred day simple moving average of $113.19. The company has a market capitalization of $94.45 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

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

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on PLD shares. Morgan Stanley cut their price target on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.32.

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.