Prologis, Inc. (NYSE:PLD) Shares Acquired by CX Institutional

CX Institutional lifted its stake in Prologis, Inc. (NYSE:PLD) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,347 shares of the real estate investment trust’s stock after purchasing an additional 88 shares during the quarter. CX Institutional’s holdings in Prologis were worth $423,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Arbor Capital Management Inc. ADV increased its stake in shares of Prologis by 0.8% in the 2nd 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. Mitchell Sinkler & Starr PA increased its position in 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 purchasing an additional 90 shares during the last quarter. Destination Wealth Management raised its stake in 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 purchasing an additional 92 shares during the period. CVA Family Office LLC boosted its holdings in Prologis by 21.4% in the 1st 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 during the last quarter. Finally, Tiemann Investment Advisors LLC grew its stake in shares of Prologis by 2.4% in the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by company insiders.

Prologis Stock Performance

Shares of Prologis stock opened at $122.74 on Friday. The business has a 50-day simple moving average of $125.42 and a 200-day simple moving average of $117.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a market cap of $113.64 billion, a PE ratio of 35.89, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last posted 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm earned $1.30 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLD. The Goldman Sachs Group lifted their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Scotiabank boosted their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Finally, Barclays lowered their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Seven investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.71.

Prologis Company 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.