Assetmark Inc. Purchases 23,140 Shares of Prologis, Inc. (NYSE:PLD)

Assetmark Inc. lifted its holdings in Prologis, Inc. (NYSE:PLD) by 77.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 53,165 shares of the real estate investment trust’s stock after buying an additional 23,140 shares during the period. Assetmark Inc.’s holdings in Prologis were worth $6,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Verdence Capital Advisors LLC raised its position in Prologis by 131.1% in the third quarter. Verdence Capital Advisors LLC now owns 10,283 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 5,833 shares during the period. CWA Asset Management Group LLC bought a new position in Prologis in the 3rd quarter worth $11,383,000. AIA Group Ltd lifted its position in Prologis by 5.2% during the third quarter. AIA Group Ltd now owns 414,982 shares of the real estate investment trust’s stock valued at $52,404,000 after purchasing an additional 20,483 shares in the last quarter. Seven Post Investment Office LP grew its holdings in Prologis by 0.7% during the third quarter. Seven Post Investment Office LP now owns 160,371 shares of the real estate investment trust’s stock valued at $20,252,000 after purchasing an additional 1,070 shares during the period. Finally, Hara Capital LLC purchased a new stake in Prologis in the third quarter worth about $48,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 1.5 %

Shares of NYSE PLD opened at $114.10 on Tuesday. The stock has a market capitalization of $105.68 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 3.04 and a beta of 1.08. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $122.69 and its 200-day moving average price is $117.77.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business earned $1.30 earnings per share. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.37%. Prologis’s payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Bank of America restated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Evercore ISI increased their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company boosted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Eight investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’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 transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

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.