Pathstone Holdings LLC Has $12.57 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Pathstone Holdings LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 99,551 shares of the real estate investment trust’s stock after purchasing an additional 557 shares during the period. Pathstone Holdings LLC’s holdings in Prologis were worth $12,571,000 as of its most recent SEC filing.

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

Prologis Price Performance

Shares of PLD opened at $114.54 on Thursday. 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 stock has a fifty day moving average price of $120.36 and a 200 day moving average price of $118.27. The company has a market cap of $106.08 billion, a P/E ratio of 34.60, a PEG ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced 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). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. On average, research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. Prologis’s dividend payout ratio is 116.01%.

Insiders Place Their Bets

In other 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 completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Scotiabank decreased their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, October 25th. Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.18.

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.