Crestline Management LP Makes New Investment in Prologis, Inc. (NYSE:PLD)

Crestline Management LP purchased a new stake in Prologis, Inc. (NYSE:PLD) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 10,985 shares of the real estate investment trust’s stock, valued at approximately $1,161,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Prologis in the fourth quarter worth $951,263,000. Northern Trust Corp lifted its position in Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock worth $1,304,922,000 after buying an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Prologis in the 4th quarter valued at about $254,876,000. Finally, FMR LLC increased its position in shares of Prologis by 11.7% in the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Prologis stock opened at $105.46 on Friday. The stock’s fifty day moving average price is $106.25 and its two-hundred day moving average price is $111.51. The firm has a market cap of $97.85 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. 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, Inc. has a one year low of $85.35 and a one year high of $132.57.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.99 billion. As a group, research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.83%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Royal Bank of Canada lowered their target price on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Barclays lowered their price objective on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Truist Financial reduced their price target on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday. Finally, Scotiabank reaffirmed a “sector underperform” rating and issued a $97.00 price objective (down from $133.00) on shares of Prologis in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.68.

About Prologis

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.