Prologis, Inc. (NYSE:PLD) Shares Acquired by HM Payson & Co.

HM Payson & Co. boosted its stake in Prologis, Inc. (NYSE:PLD) by 20.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 589 shares of the real estate investment trust’s stock after acquiring an additional 100 shares during the quarter. HM Payson & Co.’s holdings in Prologis were worth $74,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Vanguard Group Inc. increased its position in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after purchasing an additional 1,460,229 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Principal Financial Group Inc. increased its stake in Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after acquiring an additional 167,131 shares during the last quarter. Centersquare Investment Management LLC raised its position in Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after purchasing an additional 367,565 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Prologis by 16.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock valued at $767,398,000 after purchasing an additional 958,914 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 0.4 %

Shares of NYSE:PLD opened at $113.40 on Friday. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The firm’s 50 day moving average price is $124.01 and its 200 day moving average price is $117.33. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $105.03 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.08.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share 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 analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. As a group, equities research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal 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 dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis’s dividend payout ratio is currently 116.01%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s 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 transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLD. JPMorgan Chase & Co. cut their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Scotiabank reduced their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Barclays decreased their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Argus lifted their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Bank of America reissued a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $131.12.

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.