Metis Global Partners LLC Grows Holdings in Prologis, Inc. (NYSE:PLD)

Metis Global Partners LLC increased its holdings in Prologis, Inc. (NYSE:PLD) by 20.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,217 shares of the real estate investment trust’s stock after acquiring an additional 26,802 shares during the period. Prologis comprises approximately 0.6% of Metis Global Partners LLC’s portfolio, making the stock its 23rd biggest holding. Metis Global Partners LLC’s holdings in Prologis were worth $19,601,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Prologis in the first quarter valued at $352,000. Lord Abbett & CO. LLC increased its holdings in Prologis by 1.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 200,161 shares of the real estate investment trust’s stock valued at $26,065,000 after purchasing an additional 2,696 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Prologis by 1.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 92,143 shares of the real estate investment trust’s stock worth $11,999,000 after buying an additional 916 shares during the period. Blair William & Co. IL lifted its stake in Prologis by 16.0% in the first quarter. Blair William & Co. IL now owns 29,186 shares of the real estate investment trust’s stock worth $3,801,000 after acquiring an additional 4,020 shares during the period. Finally, Brighton Jones LLC grew its stake in Prologis by 0.8% in the first quarter. Brighton Jones LLC now owns 14,337 shares of the real estate investment trust’s stock worth $1,867,000 after purchasing an additional 118 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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 completion of the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLD. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Bank of America reaffirmed a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Finally, Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Trading Up 0.1 %

NYSE PLD opened at $116.66 on Thursday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a fifty day simple moving average of $121.87 and a two-hundred day simple moving average of $117.90. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $108.05 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.96 and a beta of 1.08.

Prologis (NYSE:PLD) last posted 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 net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts forecast that Prologis, Inc. will post 5.45 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. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 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.