Prologis, Inc. (NYSE:PLD) Stock Position Boosted by B&I Capital AG

B&I Capital AG grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 12.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 330,931 shares of the real estate investment trust’s stock after buying an additional 37,600 shares during the period. Prologis accounts for about 11.9% of B&I Capital AG’s holdings, making the stock its largest holding. B&I Capital AG’s holdings in Prologis were worth $37,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Nordea Investment Management AB grew its position in shares of Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after buying an additional 263,649 shares during the last quarter. Janney Capital Management LLC boosted its stake in Prologis by 18.8% in the fourth quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock valued at $3,182,000 after acquiring an additional 3,773 shares in the last quarter. Swedbank AB grew its holdings in shares of Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC purchased a new stake in shares of Prologis in the 4th quarter valued at about $18,551,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE:PLD opened at $130.24 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $123.03 and a 200 day moving average price of $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 cap of $120.58 billion, a P/E ratio of 38.08, a PEG ratio of 3.27 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 earnings per share. Research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s 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 completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Mizuho dropped their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Argus upped their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Finally, Morgan Stanley lifted their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. 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 stock. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $133.12.

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.