Private Advisor Group LLC lowered its position in Prologis, Inc. (NYSE:PLD – Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,759 shares of the real estate investment trust’s stock after selling 230 shares during the period. Private Advisor Group LLC’s holdings in Prologis were worth $6,860,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Prologis by 2.0% in the first quarter. Geode Capital Management LLC now owns 18,463,712 shares of the real estate investment trust’s stock worth $2,298,310,000 after acquiring an additional 358,431 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Prologis by 1.3% in the first quarter. Bank of America Corp DE now owns 16,364,345 shares of the real estate investment trust’s stock valued at $2,041,779,000 after purchasing an additional 217,423 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after purchasing an additional 4,729,040 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Prologis by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 12,847,534 shares of the real estate investment trust’s stock valued at $1,575,482,000 after purchasing an additional 131,090 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Prologis by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,593,923 shares of the real estate investment trust’s stock valued at $1,571,346,000 after purchasing an additional 113,893 shares in the last quarter. Institutional investors own 90.90% of the company’s stock.
Wall Street Analysts Forecast Growth
PLD has been the topic of a number of recent research reports. Truist Financial dropped their target price on Prologis from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th. Barclays dropped their target price on Prologis from $159.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Evercore ISI decreased their price target on Prologis from $132.00 to $125.00 in a research report on Monday, October 9th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Mizuho reaffirmed a “buy” rating and set a $140.00 price target on shares of Prologis in a research report on Wednesday, September 13th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.60.
Prologis Stock Performance
NYSE:PLD opened at $110.04 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.43 and a quick ratio of 0.43. The business has a fifty day simple moving average of $109.32 and a two-hundred day simple moving average of $118.56. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $136.67. The company has a market capitalization of $101.67 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.31 and a beta of 1.02.
Prologis (NYSE:PLD – Get Free Report) last released its earnings results on Tuesday, October 17th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.72 billion. Prologis had a return on equity of 5.21% and a net margin of 38.24%. The business’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same period last year, the business posted $1.73 earnings per share. On average, analysts expect that Prologis, Inc. will post 5.6 earnings per share for the current year.
Prologis Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, September 15th. Prologis’s dividend payout ratio (DPR) 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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