Resources Management Corp CT ADV Purchases 781 Shares of Prologis, Inc. (NYSE:PLD)

Resources Management Corp CT ADV boosted its stake in Prologis, Inc. (NYSE:PLD) by 2.7% in the third quarter, HoldingsChannel reports. The firm owned 29,600 shares of the real estate investment trust’s stock after acquiring an additional 781 shares during the period. Resources Management Corp CT ADV’s holdings in Prologis were worth $3,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the period. Janus Henderson Group PLC grew its position in Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Prologis in the 2nd quarter worth approximately $203,223,000. AMF Tjanstepension AB grew its position in Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the period. Finally, Federated Hermes Inc. grew its position in Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after purchasing an additional 1,358,542 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 3.1 %

Shares of PLD stock opened at $115.42 on Tuesday. The stock has a market cap of $106.90 billion, a P/E ratio of 34.87, a PEG ratio of 3.27 and a beta of 1.07. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $117.35 and its two-hundred day simple moving average is $119.00.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.33%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. JPMorgan Chase & Co. dropped their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Scotiabank dropped their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.13.

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.