Optas LLC Acquires Shares of 2,368 Prologis, Inc. (NYSE:PLD)

Optas LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,368 shares of the real estate investment trust’s stock, valued at approximately $299,000.

Other hedge funds have also bought and sold shares of the company. American Capital Advisory LLC bought a new position in Prologis during the second quarter valued at $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis in the second quarter worth about $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. grew its holdings in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis in the second quarter worth about $31,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PLD shares. Evercore ISI upped their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank lowered their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, October 25th. Argus upped their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Eight investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $113.40 on Monday. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The company’s 50 day moving average is $124.01 and its 200 day moving average is $117.41. The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.56. The company has a market cap of $105.03 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the company posted $1.30 EPS. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. Prologis’s payout ratio is 116.01%.

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.