Stablepoint Partners LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Stablepoint Partners LLC boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 15,838 shares of the real estate investment trust’s stock after purchasing an additional 1,632 shares during the period. Stablepoint Partners LLC’s holdings in Prologis were worth $1,963,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLD. Valeo Financial Advisors LLC grew its position in Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the last quarter. Norges Bank purchased a new position in Prologis during the 4th quarter worth $1,074,648,000. Capital World Investors grew its position in Prologis by 1,252.9% during the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. Swedbank AB purchased a new position in Prologis during the 1st quarter worth $596,614,000. Finally, Alphinity Investment Management Pty Ltd purchased a new position in Prologis during the 1st quarter worth $465,659,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The shares were 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on PLD. Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Mizuho lowered their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Scotiabank lifted their target price on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, Truist Financial lifted their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.12.

Prologis Stock Performance

Shares of PLD opened at $128.26 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $118.75 billion, a P/E ratio of 37.50, a PEG ratio of 3.28 and a beta of 1.07. The company has a 50-day moving average of $122.05 and a two-hundred day moving average of $119.02. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 EPS. As a group, research analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Monday, September 16th. Prologis’s payout ratio is currently 112.28%.

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.