Weaver Capital Management LLC Has $847,000 Stake in Prologis, Inc. (NYSE:PLD)

Weaver Capital Management LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 59.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,710 shares of the real estate investment trust’s stock after buying an additional 2,497 shares during the period. Weaver Capital Management LLC’s holdings in Prologis were worth $847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arbor Capital Management Inc. ADV raised its stake in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares in the last quarter. CX Institutional lifted its stake in Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA grew its position in shares of Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 90 shares during the period. Destination Wealth Management increased its stake in shares of Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 92 shares during the last quarter. Finally, Tiemann Investment Advisors LLC raised its holdings in shares of Prologis by 2.4% in the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

Prologis Stock Up 1.0 %

PLD stock opened at $118.94 on Wednesday. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The business has a 50-day simple moving average of $125.31 and a 200 day simple moving average of $117.51. 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 market cap of $110.12 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. Prologis’s dividend payout ratio is currently 112.28%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PLD shares. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Argus raised their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays decreased their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Scotiabank lifted their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.47.

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.