Prologis, Inc. (NYSE:PLD) Shares Purchased by Vert Asset Management LLC

Vert Asset Management LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 162,871 shares of the real estate investment trust’s stock after purchasing an additional 994 shares during the quarter. Prologis comprises 7.1% of Vert Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Vert Asset Management LLC’s holdings in Prologis were worth $20,567,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new stake in shares of Prologis during the 1st quarter worth approximately $26,000. American Capital Advisory LLC acquired a new position in Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the second quarter worth $27,000. Central Valley Advisors LLC purchased a new stake in Prologis during the second quarter worth $29,000. Finally, Sunbelt Securities Inc. grew its holdings in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLD. Bank of America reiterated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Evercore ISI increased their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Wells Fargo & Company upped their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group raised their price target on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.71.

Prologis Stock Down 0.2 %

Shares of NYSE PLD opened at $122.50 on Friday. The stock has a market capitalization of $113.42 billion, a PE ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. 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 firm has a fifty day moving average of $125.43 and a 200-day moving average of $117.72. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.30 EPS. On average, analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Prologis Company Profile

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.