Prologis, Inc. (NYSE:PLD) Stake Increased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its holdings in Prologis, Inc. (NYSE:PLD) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,281 shares of the real estate investment trust’s stock after purchasing an additional 274 shares during the period. Pallas Capital Advisors LLC’s holdings in Prologis were worth $3,164,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the second quarter worth $27,000. American Capital Advisory LLC bought a new stake in shares of Prologis in the second quarter valued at about $26,000. Central Valley Advisors LLC bought a new position in Prologis during the second quarter worth about $29,000. Sunbelt Securities Inc. increased its holdings in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLD. Truist Financial raised their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Scotiabank lowered their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a report on Monday, July 15th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Eight 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Performance

Shares of NYSE PLD opened at $117.81 on Tuesday. The stock has a 50 day moving average price of $124.93 and a 200 day moving average price of $117.40. Prologis, Inc. has a 52 week low of $96.96 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $109.07 billion, a PE ratio of 34.45, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.26%. Prologis’s dividend payout ratio is 112.28%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

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.