Claro Advisors LLC Purchases New Stake in Prologis, Inc. (NYSE:PLD)

Claro Advisors LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,344 shares of the real estate investment trust’s stock, valued at approximately $296,000.

Several other large investors also recently made changes to their positions in PLD. O Shaughnessy Asset Management LLC increased its holdings in Prologis by 36.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 72,817 shares of the real estate investment trust’s stock valued at $9,482,000 after purchasing an additional 19,450 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Prologis by 23.5% in the first quarter. Lake Street Advisors Group LLC now owns 8,944 shares of the real estate investment trust’s stock valued at $1,165,000 after buying an additional 1,700 shares in the last quarter. Pitcairn Co. raised its holdings in shares of Prologis by 29.2% during the 1st quarter. Pitcairn Co. now owns 11,660 shares of the real estate investment trust’s stock valued at $1,518,000 after buying an additional 2,632 shares during the period. Natixis Investment Managers International lifted its position in Prologis by 44.6% during the 1st quarter. Natixis Investment Managers International now owns 214,905 shares of the real estate investment trust’s stock worth $27,985,000 after acquiring an additional 66,250 shares in the last quarter. Finally, Castle Hook Partners LP purchased a new position in Prologis in the 1st quarter worth approximately $56,863,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 1.1 %

Shares of NYSE:PLD opened at $114.65 on Tuesday. The company’s fifty day moving average is $121.03 and its two-hundred day moving average is $118.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The stock has a market capitalization of $106.19 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 5.34% and a net margin of 39.08%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 EPS. Equities analysts anticipate 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. Investors of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.35%. Prologis’s dividend payout ratio is presently 116.01%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis 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 sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PLD shares. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Wells Fargo & Company lifted their price target 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. JPMorgan Chase & Co. decreased their price objective 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. Argus lifted their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI increased their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.18.

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.