Loomis Sayles & Co. L P Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

Loomis Sayles & Co. L P raised its stake in Prologis, Inc. (NYSE:PLD) by 202.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,233 shares of the real estate investment trust’s stock after buying an additional 825 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Prologis were worth $156,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. ASB Consultores LLC grew its stake in shares of Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV grew 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 acquiring an additional 87 shares during the last quarter. CX Institutional grew its stake in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA grew 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 acquiring an additional 90 shares during the last quarter. Finally, Destination Wealth Management grew its stake in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Evercore ISI lifted their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Truist Financial lifted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Scotiabank decreased their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $131.25.

Prologis Trading Up 1.4 %

Shares of NYSE:PLD opened at $117.80 on Friday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a market capitalization of $109.10 billion, a PE ratio of 35.59, a PEG ratio of 3.45 and a beta of 1.08. The business has a 50 day moving average of $118.87 and a two-hundred day moving average of $118.60. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. As a group, analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 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.