Prologis, Inc. (NYSE:PLD) Stock Position Raised by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 83.3% during the third quarter, Holdings Channel reports. The fund owned 18,712 shares of the real estate investment trust’s stock after acquiring an additional 8,502 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Prologis were worth $2,363,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PLD. Quantbot Technologies LP bought a new position in shares of Prologis in the 1st quarter valued at approximately $352,000. Lord Abbett & CO. LLC raised its stake in shares of Prologis by 1.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 200,161 shares of the real estate investment trust’s stock valued at $26,065,000 after acquiring an additional 2,696 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in Prologis by 1.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 92,143 shares of the real estate investment trust’s stock worth $11,999,000 after buying an additional 916 shares during the period. Blair William & Co. IL increased its position in Prologis by 16.0% in the 1st quarter. Blair William & Co. IL now owns 29,186 shares of the real estate investment trust’s stock worth $3,801,000 after buying an additional 4,020 shares during the period. Finally, Brighton Jones LLC increased its position in Prologis by 0.8% in the 1st quarter. Brighton Jones LLC now owns 14,337 shares of the real estate investment trust’s stock worth $1,867,000 after buying an additional 118 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of PLD stock opened at $116.56 on Thursday. The stock’s fifty day simple moving average is $122.11 and its 200 day simple moving average is $117.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $107.95 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.96 and a beta of 1.08. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.29%. Prologis’s payout ratio is 116.01%.

Insider Buying and Selling at Prologis

In other Prologis 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 value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PLD. Argus lifted their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company lifted their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Evercore ISI lifted their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

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.