Prologis, Inc. (NYSE:PLD) Shares Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. lifted its stake in Prologis, Inc. (NYSE:PLD) by 9.4% in the second quarter, HoldingsChannel reports. The fund owned 49,508 shares of the real estate investment trust’s stock after purchasing an additional 4,246 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Prologis were worth $5,560,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PLD. Valeo Financial Advisors LLC lifted its stake in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the period. Norges Bank acquired a new stake in shares of Prologis in the 4th quarter worth approximately $1,074,648,000. Capital World Investors lifted its stake in Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. Swedbank AB acquired a new stake in Prologis during the first quarter valued at approximately $596,614,000. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in Prologis during the first quarter valued at approximately $465,659,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on PLD shares. Evercore ISI increased their target price on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group increased their target price on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Mizuho reduced their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Finally, BMO Capital Markets restated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $133.12.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Prologis Trading Up 2.4 %

NYSE:PLD opened at $130.25 on Tuesday. The stock’s 50 day moving average price is $123.03 and its 200 day moving average price is $118.81. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a market capitalization of $120.59 billion, a P/E ratio of 38.08, a P/E/G ratio of 3.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The company’s quarterly revenue was down 18.1% on a year-over-year basis. On average, research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 2.95%. Prologis’s dividend payout ratio is currently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.