Anomaly Capital Management LP Lowers Stake in Prologis, Inc. (NYSE:PLD)

Anomaly Capital Management LP trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 926,883 shares of the real estate investment trust’s stock after selling 18,230 shares during the period. Prologis makes up about 2.9% of Anomaly Capital Management LP’s holdings, making the stock its 12th largest holding. Anomaly Capital Management LP owned about 0.10% of Prologis worth $97,972,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PLD. Murphy & Mullick Capital Management Corp purchased 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 shares of Prologis in the 4th quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter valued at $30,000. Whipplewood Advisors LLC acquired a new stake in Prologis during the 4th quarter worth $34,000. Finally, Promus Capital LLC purchased a new stake in Prologis in the fourth quarter valued at $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on 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 sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PLD. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. BMO Capital Markets cut their price target on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, Mizuho dropped their target price on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.32.

Prologis Price Performance

PLD opened at $98.68 on Tuesday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a 50 day moving average of $111.02 and a two-hundred day moving average of $112.96. The company has a market cap of $91.47 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

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

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

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.