Westwood Holdings Group Inc. Purchases 247,974 Shares of Prologis, Inc. (NYSE:PLD)

Westwood Holdings Group Inc. lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 50.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 738,366 shares of the real estate investment trust’s stock after purchasing an additional 247,974 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Prologis were worth $82,926,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after buying an additional 263,649 shares in the last quarter. Swedbank AB lifted its stake in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after purchasing an additional 43,235 shares in the last quarter. Atalanta Sosnoff Capital LLC bought a new stake in shares of Prologis in the 4th quarter valued at approximately $18,551,000. Finally, US Bancorp DE raised its holdings in shares of Prologis by 6.5% in the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after buying an additional 41,469 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Shares of NYSE:PLD opened at $125.47 on Friday. The firm has a 50 day moving average of $125.48 and a 200-day moving average of $118.74. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $116.17 billion, a PE ratio of 36.69, a PEG ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business 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%. Prologis’s quarterly revenue was down 18.1% on a year-over-year basis. During the same period last year, the firm posted $1.83 EPS. On average, equities research analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 dividend on an annualized basis and a yield of 3.06%. Prologis’s dividend payout ratio is currently 112.28%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PLD. The Goldman Sachs Group boosted their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. 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. Finally, Barclays boosted their target price on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.