Caprock Group LLC Boosts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Caprock Group LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,226 shares of the real estate investment trust’s stock after acquiring an additional 236 shares during the period. Caprock Group LLC’s holdings in Prologis were worth $1,797,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLD. American Capital Advisory LLC purchased a new position in Prologis during the second quarter valued at $26,000. Semmax Financial Advisors Inc. bought a new position in Prologis during the second quarter valued at $27,000. Central Valley Advisors LLC bought a new position in Prologis during the second quarter valued at $29,000. Sunbelt Securities Inc. lifted its position in 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 purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Prologis during the second quarter valued at $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PLD shares. Truist Financial increased their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Evercore ISI raised their target price 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. Barclays raised their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.18.

Prologis Stock Down 0.5 %

Shares of Prologis stock opened at $114.54 on Thursday. The firm’s 50 day moving average price is $120.36 and its 200-day moving average price is $118.27. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. 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 (NYSE:PLD) last issued its quarterly earnings data 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). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm earned $1.30 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

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

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred 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 completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by company insiders.

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.