Lake Street Advisors Group LLC Acquires 188 Shares of Prologis, Inc. (NYSE:PLD)

Lake Street Advisors Group LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,171 shares of the real estate investment trust’s stock after acquiring an additional 188 shares during the period. Lake Street Advisors Group LLC’s holdings in Prologis were worth $1,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Prologis by 380.0% during the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB boosted its holdings in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares during the last quarter. US Bancorp DE boosted its stake in Prologis by 6.5% in the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after acquiring an additional 41,469 shares during the last quarter. Finally, Sunflower Bank N.A. purchased a new position in Prologis in the third quarter valued at about $249,000. 93.50% of the stock is owned by institutional investors.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction 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 transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Barclays dropped their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company boosted their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Eight research 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Stock Performance

Prologis stock opened at $117.52 on Friday. The firm’s 50 day simple moving average is $125.17 and its 200 day simple moving average is $117.56. 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 firm has a market capitalization of $108.81 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. As a group, analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 112.28%.

About Prologis

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.