Prologis, Inc. (NYSE:PLD) Stock Position Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 165.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,895 shares of the real estate investment trust’s stock after buying an additional 36,693 shares during the quarter. King Luther Capital Management Corp’s holdings in Prologis were worth $7,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Swedbank AB boosted its stake in Prologis by 9.2% during 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 purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares in the last quarter. Sunflower Bank N.A. acquired a new position in Prologis during the third quarter worth about $249,000. Cetera Advisors LLC raised its position in Prologis by 118.7% in the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after acquiring an additional 20,623 shares in the last quarter. Finally, Abundance Wealth Counselors acquired a new stake in Prologis in the 2nd quarter valued at about $973,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of NYSE PLD opened at $113.97 on Friday. The business’s 50-day simple moving average is $120.04 and its 200-day simple moving average is $118.24. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $105.56 billion, a price-to-earnings ratio of 34.43, a P/E/G ratio of 3.03 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.37%. Prologis’s payout ratio is 116.01%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Truist Financial upped their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Evercore ISI upped their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company lifted their target price 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. Finally, Scotiabank dropped their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Eight equities research 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, Prologis currently has an average rating of “Moderate Buy” and an average target price of $131.25.

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.