Profund Advisors LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,958 shares of the real estate investment trust’s stock after selling 253 shares during the quarter. Profund Advisors LLC’s holdings in Prologis were worth $1,712,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in PLD. RB Capital Management LLC boosted its stake in shares of Prologis by 14.7% during the first quarter. RB Capital Management LLC now owns 3,004 shares of the real estate investment trust’s stock valued at $485,000 after purchasing an additional 385 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Prologis by 5.3% in the first quarter. Blair William & Co. IL now owns 21,612 shares of the real estate investment trust’s stock worth $3,490,000 after acquiring an additional 1,092 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Prologis by 87.7% in the first quarter. Sequoia Financial Advisors LLC now owns 3,382 shares of the real estate investment trust’s stock worth $546,000 after acquiring an additional 1,580 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Prologis by 41.8% in the first quarter. Baird Financial Group Inc. now owns 241,219 shares of the real estate investment trust’s stock worth $38,952,000 after acquiring an additional 71,112 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in shares of Prologis by 38.8% in the first quarter. Zions Bancorporation N.A. now owns 2,078 shares of the real estate investment trust’s stock worth $336,000 after acquiring an additional 581 shares during the period. 90.90% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently commented on PLD. Mizuho reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Prologis in a research note on Wednesday, September 13th. TheStreet lowered Prologis from a “b-” rating to a “c+” rating in a research note on Friday, October 20th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Barclays lowered their target price on Prologis from $159.00 to $153.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Finally, Truist Financial lowered their target price on Prologis from $135.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, October 24th. Three investment 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $139.60.
Prologis Trading Up 0.8 %
NYSE PLD opened at $111.00 on Tuesday. The company has a market cap of $102.56 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 2.31 and a beta of 1.02. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $136.67. The business has a 50 day moving average price of $109.09 and a 200-day moving average price of $118.40. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.47.
Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. The firm 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 company’s quarterly revenue was up 53.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 earnings per share. As a group, equities analysts expect that Prologis, Inc. will post 5.6 earnings per share for the current fiscal year.
Prologis Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were issued a dividend of $0.87 per share. The ex-dividend date was Friday, September 15th. This represents a $3.48 annualized dividend and a yield of 3.14%. 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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