Manning & Napier Group LLC Increases Stake in Prologis, Inc. (NYSE:PLD)

Manning & Napier Group LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 307,345 shares of the real estate investment trust’s stock after buying an additional 1,268 shares during the period. Manning & Napier Group LLC’s holdings in Prologis were worth $40,969,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new position in Prologis in the 4th quarter worth $28,000. VitalStone Financial LLC bought a new position in Prologis in the 2nd quarter worth $27,000. DHJJ Financial Advisors Ltd. bought a new position in Prologis in the 3rd quarter worth $29,000. FinTrust Capital Advisors LLC increased its stake in shares of Prologis by 966.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Finally, Salem Investment Counselors Inc. bought a new position in shares of Prologis in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Raymond James increased their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Scotiabank increased their price target on shares of Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a research note on Friday, December 15th. Mizuho raised their price objective on shares of Prologis from $125.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Finally, Evercore ISI restated an “in-line” rating and set a $136.00 price objective on shares of Prologis in a research note on Monday, March 18th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis Stock Performance

Shares of PLD traded up $1.36 on Friday, reaching $130.22. The company’s stock had a trading volume of 3,676,095 shares, compared to its average volume of 2,997,395. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $120.46 billion, a P/E ratio of 39.58, a PEG ratio of 2.58 and a beta of 1.00. The stock’s 50 day simple moving average is $130.64 and its two-hundred day simple moving average is $121.75. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the firm earned $1.24 EPS. Prologis’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts forecast that Prologis, Inc. will post 5.5 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 2.95%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is presently 116.72%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.