Anomaly Capital Management LP Takes Position in Prologis, Inc. (NYSE:PLD)

Anomaly Capital Management LP acquired a new position in Prologis, Inc. (NYSE:PLD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 602,884 shares of the real estate investment trust’s stock, valued at approximately $67,710,000. Prologis makes up about 2.6% of Anomaly Capital Management LP’s investment portfolio, making the stock its 17th biggest position. Anomaly Capital Management LP owned about 0.07% of Prologis as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new stake in shares of Prologis during the first quarter worth about $26,000. American Capital Advisory LLC acquired a new stake in Prologis in the 2nd quarter worth approximately $26,000. True Wealth Design LLC purchased a new stake in Prologis during the 4th quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new position in Prologis during the 2nd quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis in the second quarter worth $31,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PLD. The Goldman Sachs Group upped their target price on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Mizuho decreased their target price on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Finally, Truist Financial raised their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.35.

Prologis Price Performance

Prologis stock opened at $125.47 on Monday. The company has a fifty day simple moving average of $125.48 and a 200-day simple moving average of $118.55. The firm has a market capitalization of $116.17 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 3.36 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $1.83 EPS. The firm’s revenue was down 18.1% on a year-over-year basis. On average, equities analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.06%. Prologis’s payout ratio is 112.28%.

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.