Plato Investment Management Ltd Has $3.41 Million Position in Prologis, Inc. (NYSE:PLD)

Plato Investment Management Ltd lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,333 shares of the real estate investment trust’s stock after purchasing an additional 1,212 shares during the period. Plato Investment Management Ltd’s holdings in Prologis were worth $3,407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Prosperity Consulting Group LLC increased its position in Prologis by 14.3% during the second quarter. Prosperity Consulting Group LLC now owns 3,693 shares of the real estate investment trust’s stock worth $415,000 after buying an additional 462 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Prologis by 14.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,836,048 shares of the real estate investment trust’s stock worth $318,517,000 after acquiring an additional 362,671 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Prologis by 1.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 39,815 shares of the real estate investment trust’s stock worth $4,472,000 after acquiring an additional 381 shares during the last quarter. Stolper Co increased its holdings in shares of Prologis by 3.4% during the 2nd quarter. Stolper Co now owns 15,223 shares of the real estate investment trust’s stock worth $1,710,000 after acquiring an additional 505 shares during the last quarter. Finally, Westover Capital Advisors LLC bought a new stake in Prologis in the 2nd quarter valued at $334,000. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on PLD. Mizuho reduced their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Wells Fargo & Company increased their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.12.

Prologis Stock Performance

PLD opened at $129.98 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market cap of $120.34 billion, a P/E ratio of 38.01, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The business’s fifty day moving average is $124.42 and its 200-day moving average is $118.85.

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 analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.83 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 annualized dividend and a yield of 2.95%. Prologis’s dividend payout ratio is currently 112.28%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.