Prologis, Inc. (NYSE:PLD) Stake Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Prologis, Inc. (NYSE:PLD) by 3.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 604,480 shares of the real estate investment trust’s stock after acquiring an additional 18,908 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Prologis were worth $76,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. ASB Consultores LLC lifted its stake in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its stake in Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after purchasing an additional 87 shares during the period. CX Institutional grew its position in Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA grew its holdings in Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares in the last quarter. Finally, Destination Wealth Management increased its position in Prologis by 4.7% in the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLD. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Evercore ISI boosted their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Scotiabank dropped their price objective on 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 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 stock. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $131.25.

Prologis Stock Performance

Shares of Prologis stock opened at $117.81 on Thursday. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The stock has a market cap of $109.11 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 3.45 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. The business has a fifty day simple moving average of $119.09 and a 200-day simple moving average of $118.61.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal 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 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 dividend yield of 3.26%. Prologis’s dividend payout ratio is 116.01%.

Prologis Company 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.