Cetera Investment Advisers increased its holdings in Prologis, Inc. (NYSE:PLD – Free Report) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,483 shares of the real estate investment trust’s stock after purchasing an additional 1,316 shares during the quarter. Cetera Investment Advisers’ holdings in Prologis were worth $9,256,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Bank of Nova Scotia raised its holdings in shares of Prologis by 16.4% during the second quarter. Bank of Nova Scotia now owns 81,652 shares of the real estate investment trust’s stock valued at $10,013,000 after acquiring an additional 11,528 shares during the period. Fifth Third Bancorp raised its holdings in shares of Prologis by 0.3% during the second quarter. Fifth Third Bancorp now owns 141,026 shares of the real estate investment trust’s stock valued at $17,294,000 after acquiring an additional 360 shares during the period. ASB Consultores LLC acquired a new stake in shares of Prologis during the first quarter valued at approximately $243,000. Assetmark Inc. raised its holdings in shares of Prologis by 10.7% during the first quarter. Assetmark Inc. now owns 25,854 shares of the real estate investment trust’s stock valued at $3,226,000 after acquiring an additional 2,509 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of Prologis by 4.1% during the second quarter. LPL Financial LLC now owns 340,745 shares of the real estate investment trust’s stock valued at $41,786,000 after acquiring an additional 13,384 shares during the period. 90.90% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently commented on PLD. Truist Financial lowered their price objective on shares of Prologis from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. BNP Paribas raised shares of Prologis from a “neutral” rating to an “outperform” rating and set a $141.00 price objective on the stock in a research report on Thursday, July 20th. Raymond James lowered their price objective 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. Morgan Stanley reaffirmed an “overweight” rating and set a $128.00 price objective on shares of Prologis in a research report on Thursday, July 20th. Finally, BTIG Research boosted their target price on shares of Prologis from $152.00 to $154.00 in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $139.60.
Prologis Trading Up 1.1 %
Shares of PLD stock opened at $110.51 on Thursday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $136.67. The stock has a market cap of $102.11 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 2.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a fifty day moving average of $109.83 and a 200-day moving average of $118.71.
Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $1.30 earnings per share (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 company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the company posted $1.73 EPS. The business’s revenue was up 53.8% on a year-over-year basis. On average, equities research analysts forecast that Prologis, Inc. will post 5.6 earnings per share for the current fiscal year.
Prologis Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, September 15th. Prologis’s dividend payout ratio (DPR) is currently 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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