Lecap Asset Management Ltd. Invests $357,000 in Prologis, Inc. (NYSE:PLD)

Lecap Asset Management Ltd. purchased a new stake in Prologis, Inc. (NYSE:PLD) in the third quarter, Holdings Channel reports. The firm purchased 2,831 shares of the real estate investment trust’s stock, valued at approximately $357,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Capital Advisory LLC purchased a new stake in shares of Prologis in the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis in the second quarter valued at about $27,000. Central Valley Advisors LLC purchased a new stake in Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. grew its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis during the 2nd quarter valued at about $31,000. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday. Wells Fargo & Company boosted their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Truist Financial raised their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

Prologis Trading Down 0.4 %

NYSE PLD opened at $120.39 on Friday. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a fifty day simple moving average of $125.26 and a two-hundred day simple moving average of $117.54. 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 cap of $111.46 billion, a P/E ratio of 35.20, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $1.30 EPS. On average, analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.19%. The ex-dividend date was 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.