TD Asset Management Inc increased its position in Prologis, Inc. (NYSE:PLD – Free Report) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 561,429 shares of the real estate investment trust’s stock after acquiring an additional 14,065 shares during the quarter. TD Asset Management Inc owned about 0.06% of Prologis worth $68,848,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia grew its position in Prologis by 16.4% in the 2nd quarter. Bank of Nova Scotia now owns 81,652 shares of the real estate investment trust’s stock worth $10,013,000 after purchasing an additional 11,528 shares during the last quarter. Fifth Third Bancorp grew its position in Prologis by 0.3% in the 2nd quarter. Fifth Third Bancorp now owns 141,026 shares of the real estate investment trust’s stock worth $17,294,000 after purchasing an additional 360 shares during the last quarter. ASB Consultores LLC acquired a new stake in Prologis in the 1st quarter worth $243,000. Assetmark Inc. grew its position in Prologis by 10.7% in the 1st quarter. Assetmark Inc. now owns 25,854 shares of the real estate investment trust’s stock worth $3,226,000 after purchasing an additional 2,509 shares during the last quarter. Finally, LPL Financial LLC grew its position in Prologis by 4.1% in the 2nd quarter. LPL Financial LLC now owns 340,745 shares of the real estate investment trust’s stock worth $41,786,000 after purchasing an additional 13,384 shares during the last quarter. Institutional investors own 90.90% of the company’s stock.
Analyst Ratings Changes
Several research firms have issued reports on PLD. BNP Paribas upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and set a $141.00 price target on the stock in a research report on Thursday, July 20th. Morgan Stanley reiterated an “overweight” rating and set a $128.00 target price on shares of Prologis in a research report on Thursday, July 20th. Evercore ISI decreased their target price on shares of Prologis from $132.00 to $125.00 in a research report on Monday, October 9th. Raymond James decreased their target price on shares of Prologis from $145.00 to $130.00 and set a “strong-buy” rating on the stock in a research report on Monday, October 23rd. Finally, TheStreet lowered shares of Prologis from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.
Prologis Price Performance
NYSE:PLD opened at $109.36 on Wednesday. The firm has a market cap of $101.05 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $136.67. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $110.04 and its two-hundred day moving average price is $118.77.
Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Prologis had a net margin of 38.24% and a return on equity of 5.21%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was up 53.8% compared to the same quarter last year. On average, equities analysts anticipate that Prologis, Inc. will post 5.6 EPS for the current fiscal year.
Prologis Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Friday, September 15th. Prologis’s dividend payout ratio is presently 107.41%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 2023, 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 (114 million square meters) in 19 countries.
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