Hilltop Holdings Inc. Increases Stake in Prologis, Inc. (NYSE:PLD)

Hilltop Holdings Inc. boosted its stake in Prologis, Inc. (NYSE:PLD) by 290.7% in the third quarter, Holdings Channel.com reports. The firm owned 32,009 shares of the real estate investment trust’s stock after acquiring an additional 23,816 shares during the quarter. Hilltop Holdings Inc.’s holdings in Prologis were worth $4,042,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ASB Consultores LLC raised its stake in Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 86 shares in the last quarter. Arbor Capital Management Inc. ADV raised its position in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after acquiring an additional 87 shares in the last quarter. CX Institutional lifted its stake in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its holdings in Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares during the period. Finally, Destination Wealth Management increased its stake in Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PLD. Scotiabank reduced their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. 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 report on Monday, October 21st. Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Bank of America restated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Finally, Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Stock Down 0.8 %

PLD stock opened at $115.82 on Tuesday. The firm’s 50-day moving average is $118.70 and its two-hundred day moving average is $118.80. 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 company has a market capitalization of $107.27 billion, a price-to-earnings ratio of 34.99, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results 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). The firm had revenue of $1.90 billion for 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%. During the same period in the previous year, the firm earned $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

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.