HighTower Advisors LLC Buys 9,674 Shares of Prologis, Inc. (NYSE:PLD)

HighTower Advisors LLC grew its holdings in Prologis, Inc. (NYSE:PLDFree Report) by 7.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,773 shares of the real estate investment trust’s stock after buying an additional 9,674 shares during the period. HighTower Advisors LLC’s holdings in Prologis were worth $16,225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pathstone Family Office LLC grew its stake in shares of Prologis by 105.0% in the 3rd quarter. Pathstone Family Office LLC now owns 51,242 shares of the real estate investment trust’s stock worth $5,753,000 after buying an additional 26,243 shares in the last quarter. Holistic Financial Partners lifted its holdings in shares of Prologis by 5.3% in the 3rd quarter. Holistic Financial Partners now owns 1,926 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 97 shares during the last quarter. AlphaStar Capital Management LLC lifted its holdings in shares of Prologis by 8.7% in the 3rd quarter. AlphaStar Capital Management LLC now owns 6,187 shares of the real estate investment trust’s stock worth $694,000 after acquiring an additional 494 shares during the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Prologis by 3.7% in the 3rd quarter. KCM Investment Advisors LLC now owns 30,615 shares of the real estate investment trust’s stock worth $3,435,000 after acquiring an additional 1,086 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Prologis by 1.4% in the 3rd quarter. Van ECK Associates Corp now owns 352,243 shares of the real estate investment trust’s stock worth $39,526,000 after acquiring an additional 4,916 shares during the last quarter. 90.90% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 0.3 %

NYSE:PLD opened at $132.11 on Tuesday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.43 and a current ratio of 0.09. The firm has a market cap of $122.07 billion, a P/E ratio of 40.16, a P/E/G ratio of 2.65 and a beta of 1.00. The firm has a 50-day simple moving average of $129.47 and a 200-day simple moving average of $119.72.

Prologis (NYSE:PLDGet Free Report) last posted its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were issued a $0.87 dividend. The ex-dividend date was Friday, December 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.63%. Prologis’s dividend payout ratio is currently 105.78%.

Insider Activity

In other news, Director James B. Connor sold 103,331 shares of Prologis stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $133.20, for a total value of $13,763,689.20. Following the transaction, the director now owns 21,419 shares of the company’s stock, valued at approximately $2,853,010.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLD. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Truist Financial restated a “buy” rating and issued a $120.00 target price on shares of Prologis in a report on Monday, November 27th. Robert W. Baird raised their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Morgan Stanley raised their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Three equities research 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 data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $141.50.

View Our Latest Analysis on PLD

Prologis Profile

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 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 (115 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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