L & S Advisors Inc Has $3.51 Million Position in Prologis, Inc. (NYSE:PLD)

L & S Advisors Inc grew its holdings in Prologis, Inc. (NYSE:PLD) by 41.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,789 shares of the real estate investment trust’s stock after purchasing an additional 8,184 shares during the quarter. L & S Advisors Inc’s holdings in Prologis were worth $3,509,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PLD. Swedbank AB increased its holdings in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after acquiring an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Sunflower Bank N.A. bought a new position in shares of Prologis in the 3rd quarter valued at $249,000. Cetera Advisors LLC grew its position in Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after acquiring an additional 20,623 shares during the last quarter. Finally, Abundance Wealth Counselors acquired a new position in Prologis during the 2nd quarter worth about $973,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $114.54 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a 50-day simple moving average of $120.36 and a two-hundred day simple moving average of $118.27. The firm has a market capitalization of $106.08 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS 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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the business earned $1.30 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm 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. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.35%. Prologis’s payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLD. Wells Fargo & Company boosted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Truist Financial upped their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $131.18.

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.