Sigma Planning Corp Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Sigma Planning Corp lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,809 shares of the real estate investment trust’s stock after buying an additional 372 shares during the period. Sigma Planning Corp’s holdings in Prologis were worth $986,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new position in shares of Prologis in the 1st quarter valued at approximately $352,000. Lord Abbett & CO. LLC lifted its position in Prologis by 1.4% during the first quarter. Lord Abbett & CO. LLC now owns 200,161 shares of the real estate investment trust’s stock valued at $26,065,000 after buying an additional 2,696 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Prologis by 1.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 92,143 shares of the real estate investment trust’s stock valued at $11,999,000 after buying an additional 916 shares in the last quarter. Blair William & Co. IL grew its position in shares of Prologis by 16.0% in the 1st quarter. Blair William & Co. IL now owns 29,186 shares of the real estate investment trust’s stock worth $3,801,000 after buying an additional 4,020 shares during the period. Finally, Brighton Jones LLC increased its stake in shares of Prologis by 0.8% in the 1st quarter. Brighton Jones LLC now owns 14,337 shares of the real estate investment trust’s stock worth $1,867,000 after acquiring an additional 118 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction 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 transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.

Prologis Stock Performance

Shares of PLD opened at $116.56 on Thursday. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The business has a fifty day moving average of $122.11 and a 200 day moving average of $117.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $107.95 billion, a P/E ratio of 35.21, a PEG ratio of 2.96 and a beta of 1.08.

Prologis (NYSE:PLD) last released 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). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $1.30 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

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. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PLD shares. Evercore ISI upped their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank cut their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Argus boosted their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis 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.