Prologis, Inc. (NYSE:PLD) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 19.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,444 shares of the real estate investment trust’s stock after acquiring an additional 2,002 shares during the period. Summit Trail Advisors LLC’s holdings in Prologis were worth $1,571,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. American Capital Advisory LLC acquired a new stake in shares of Prologis during the second quarter worth about $26,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis in the second quarter valued at about $27,000. Central Valley Advisors LLC acquired a new position in Prologis during the second quarter worth $29,000. Sunbelt Securities Inc. raised its stake in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter worth $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PLD shares. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Truist Financial lifted their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Stock Performance

Shares of NYSE PLD opened at $115.80 on Monday. The stock’s fifty day simple moving average is $119.75 and its 200 day simple moving average is $118.48. The stock has a market capitalization of $107.25 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.00 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (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 firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm earned $1.30 earnings per share. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

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.