Moors & Cabot Inc. Has $265,000 Holdings in Prologis, Inc. (NYSE:PLD)

Moors & Cabot Inc. grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,096 shares of the real estate investment trust’s stock after acquiring an additional 119 shares during the quarter. Moors & Cabot Inc.’s holdings in Prologis were worth $265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PLD. American Capital Advisory LLC bought a new stake in shares of Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. bought a new stake in Prologis during the 2nd quarter worth $27,000. Central Valley Advisors LLC acquired a new position in Prologis in the 2nd quarter worth about $29,000. Sunbelt Securities Inc. raised its position in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis during the second quarter valued at about $31,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Scotiabank cut their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. JPMorgan Chase & Co. lowered their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

Prologis Stock Up 1.6 %

Shares of NYSE:PLD opened at $115.80 on Friday. 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 52-week low of $101.11 and a 52-week high of $137.52. The business’s 50 day simple moving average is $119.75 and its two-hundred day simple moving average is $118.39. The firm has a market cap of $107.25 billion, a P/E ratio of 34.98, a PEG ratio of 3.00 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 (EPS) 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 business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business posted $1.30 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 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.