Janus Henderson Group PLC Trims Stock Holdings in Prologis, Inc. (NYSE:PLD)

Janus Henderson Group PLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 21.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,664,336 shares of the real estate investment trust’s stock after selling 463,624 shares during the period. Janus Henderson Group PLC owned approximately 0.18% of Prologis worth $216,674,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bayesian Capital Management LP bought a new position in shares of Prologis during the first quarter valued at about $4,386,000. Captrust Financial Advisors grew its holdings in shares of Prologis by 188.0% during the first quarter. Captrust Financial Advisors now owns 174,783 shares of the real estate investment trust’s stock valued at $22,760,000 after buying an additional 114,100 shares during the last quarter. SVB Wealth LLC grew its holdings in shares of Prologis by 18.8% during the first quarter. SVB Wealth LLC now owns 11,547 shares of the real estate investment trust’s stock valued at $1,504,000 after buying an additional 1,831 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Prologis during the first quarter valued at approximately $4,406,000. Finally, Lazard Asset Management LLC lifted its position in Prologis by 5.9% during the first quarter. Lazard Asset Management LLC now owns 6,126,318 shares of the real estate investment trust’s stock valued at $797,767,000 after purchasing an additional 340,948 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Scotiabank dropped their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. UBS Group dropped their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Argus lifted their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada reduced their price target on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Five investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $130.93.

Prologis Stock Up 1.7 %

Shares of Prologis stock traded up $2.14 on Tuesday, hitting $126.09. 2,663,866 shares of the company’s stock traded hands, compared to its average volume of 3,739,916. The stock has a market cap of $116.74 billion, a P/E ratio of 36.24, a PEG ratio of 2.90 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $113.61 and its 200 day moving average is $119.78. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same period last year, the business posted $1.83 earnings per share. Equities analysts anticipate that Prologis, Inc. will post 5.43 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. The ex-dividend date was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.05%. Prologis’s dividend payout ratio (DPR) is 112.28%.

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.