Baldwin Investment Management LLC Has $1.39 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Baldwin Investment Management LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,967 shares of the real estate investment trust’s stock after selling 732 shares during the quarter. Baldwin Investment Management LLC’s holdings in Prologis were worth $1,385,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Swedbank AB grew its position in shares of Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares during the last quarter. Sunflower Bank N.A. acquired a new position in shares of Prologis in the 3rd quarter worth approximately $249,000. Cetera Advisors LLC raised its stake in Prologis by 118.7% during the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after buying an additional 20,623 shares during the last quarter. Finally, Abundance Wealth Counselors bought a new stake in Prologis during the second quarter valued at $973,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLD. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Morgan Stanley raised their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Barclays boosted their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Wells Fargo & Company lifted their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Price Performance

Prologis stock opened at $116.16 on Wednesday. The business’s 50 day simple moving average is $119.27 and its 200 day simple moving average is $118.61. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company has a market cap of $107.58 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.05 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the company earned $1.30 earnings per share. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

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.