LPL Financial LLC Purchases 158,211 Shares of Prologis, Inc. (NYSE:PLD)

LPL Financial LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 24.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 814,914 shares of the real estate investment trust’s stock after acquiring an additional 158,211 shares during the quarter. LPL Financial LLC owned 0.09% of Prologis worth $102,907,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Prologis by 9.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 197,854 shares of the real estate investment trust’s stock worth $24,985,000 after buying an additional 16,310 shares during the period. King Luther Capital Management Corp grew its position in Prologis by 165.3% in the 3rd quarter. King Luther Capital Management Corp now owns 58,895 shares of the real estate investment trust’s stock valued at $7,437,000 after acquiring an additional 36,693 shares during the last quarter. Cornerstone Advisors LLC increased its stake in Prologis by 263.6% in the third quarter. Cornerstone Advisors LLC now owns 8,000 shares of the real estate investment trust’s stock worth $1,010,000 after purchasing an additional 5,800 shares during the period. Moors & Cabot Inc. lifted its position in shares of Prologis by 6.0% during the third quarter. Moors & Cabot Inc. now owns 2,096 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 119 shares during the last quarter. Finally, Hilton Capital Management LLC boosted its stake in shares of Prologis by 56.7% during the third quarter. Hilton Capital Management LLC now owns 73,159 shares of the real estate investment trust’s stock valued at $9,239,000 after purchasing an additional 26,459 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target 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. Scotiabank reduced their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Trading Up 1.6 %

NYSE:PLD opened at $115.80 on Friday. The stock has a market capitalization of $107.25 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.00 and a beta of 1.08. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $119.75 and a 200 day moving average of $118.39.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

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.