Inspire Trust Co. N.A. Acquires 4,419 Shares of Prologis, Inc. (NYSE:PLD)

Inspire Trust Co. N.A. increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 20.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,000 shares of the real estate investment trust’s stock after buying an additional 4,419 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Prologis were worth $3,283,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Prologis by 534.7% in the third 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 acquiring an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC increased its position in Prologis by 145.0% during 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis in the 2nd quarter valued at approximately $203,223,000. AMF Tjanstepension AB boosted its position in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after buying an additional 1,358,542 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PLD shares. Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Scotiabank lowered their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Raymond James reissued an “outperform” rating and set a $125.00 target price (down from $130.00) on shares of Prologis in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $128.88.

Prologis Trading Down 0.3 %

NYSE:PLD opened at $111.68 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. The firm has a market cap of $103.43 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The firm has a 50-day moving average price of $116.67 and a two-hundred day moving average price of $118.96. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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 company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. On average, equities analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.44%. Prologis’s payout ratio is 116.01%.

Prologis Company 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.