Good Life Advisors LLC Boosts Stake in Prologis, Inc. (NYSE:PLD)

Good Life Advisors LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,613 shares of the real estate investment trust’s stock after purchasing an additional 501 shares during the period. Good Life Advisors LLC’s holdings in Prologis were worth $1,214,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PLD. Valeo Financial Advisors LLC lifted its holdings in shares of Prologis by 182,067.2% in the first 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 buying an additional 48,850,448 shares in the last quarter. Swedbank AB purchased a new stake in shares of Prologis in the first quarter worth about $596,614,000. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Prologis in the first quarter worth about $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis during the second quarter valued at approximately $203,223,000. Finally, Vanguard Group Inc. grew its holdings in Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $122.74 on Friday. The firm has a market cap of $113.64 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $125.42 and its two-hundred day simple moving average is $117.76.

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

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s 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 transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent research reports. Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. The Goldman Sachs Group boosted their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Evercore ISI boosted 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. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.71.

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.