226,672 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Eminence Capital LP

Eminence Capital LP bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the second quarter, Holdings Channel.com reports. The fund bought 226,672 shares of the real estate investment trust’s stock, valued at approximately $25,458,000.

A number of other large investors have also recently made changes to their positions in the company. Arbor Capital Management Inc. ADV increased its stake in shares of Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after buying an additional 87 shares during the period. Mitchell Sinkler & Starr PA increased its stake in shares of Prologis by 5.1% during the second 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 during the period. Destination Wealth Management boosted its holdings in Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares in the last quarter. CVA Family Office LLC boosted its holdings in Prologis by 21.4% in the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 94 shares in the last quarter. Finally, Tiemann Investment Advisors LLC boosted its holdings in Prologis by 2.4% in the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after purchasing an additional 100 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PLD shares. Mizuho lowered their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Barclays upped their price target on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group upped their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Finally, StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Seven 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Price Performance

Prologis stock opened at $125.45 on Thursday. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $125.70 and a 200-day simple moving average of $118.45. The stock has a market capitalization of $116.16 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS. Equities analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The firm 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 $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is 112.28%.

About Prologis

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.