Prologis, Inc. (NYSE:PLD) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. grew its position in shares of Prologis, Inc. (NYSE:PLD) by 362.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,930 shares of the real estate investment trust’s stock after purchasing an additional 3,081 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Prologis were worth $441,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Plato Investment Management Ltd increased its position in shares of Prologis by 4.2% during the 2nd quarter. Plato Investment Management Ltd now owns 30,333 shares of the real estate investment trust’s stock valued at $3,407,000 after purchasing an additional 1,212 shares during the period. Prosperity Consulting Group LLC increased its position in shares of Prologis by 14.3% during the 2nd quarter. Prosperity Consulting Group LLC now owns 3,693 shares of the real estate investment trust’s stock valued at $415,000 after purchasing an additional 462 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Prologis by 14.7% in 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 last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Prologis by 1.0% in 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. Finally, Stolper Co grew its holdings in shares of Prologis by 3.4% in 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. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred 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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Prologis Stock Performance

PLD opened at $128.91 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $119.35 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The stock has a 50-day moving average of $125.00 and a 200-day moving average of $118.68. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results 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 during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.83 earnings per share. As a group, equities research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared 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 2.98%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PLD shares. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. 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. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Barclays lifted their target price on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Mizuho decreased their target price on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Seven equities research 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 data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

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.