Prologis, Inc. (NYSE:PLD) Stake Boosted by Natixis Advisors LLC

Natixis Advisors LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 16.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,371,225 shares of the real estate investment trust’s stock after purchasing an additional 189,742 shares during the period. Natixis Advisors LLC’s holdings in Prologis were worth $173,159,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PLD. Coastline Trust Co bought a new stake in shares of Prologis during the 3rd quarter valued at about $52,000. Empowered Funds LLC grew its holdings in shares of Prologis by 117.9% during the third quarter. Empowered Funds LLC now owns 34,755 shares of the real estate investment trust’s stock valued at $4,389,000 after purchasing an additional 18,807 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its position in shares of Prologis by 5.0% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 183,424 shares of the real estate investment trust’s stock worth $23,163,000 after purchasing an additional 8,766 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Prologis by 11.3% in the 3rd quarter. CIBC Asset Management Inc now owns 187,992 shares of the real estate investment trust’s stock worth $23,740,000 after purchasing an additional 19,029 shares during the last quarter. Finally, Balboa Wealth Partners bought a new position in Prologis during the 3rd quarter worth $262,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’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 completion of the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Stock Performance

Shares of PLD opened at $113.42 on Friday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The stock has a market capitalization of $105.05 billion, a P/E ratio of 34.25, a P/E/G ratio of 3.06 and a beta of 1.08. The firm’s 50 day moving average is $121.34 and its 200-day moving average is $117.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

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 the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. Equities research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PLD shares. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Barclays decreased their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Morgan Stanley increased their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Bank of America reaffirmed a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.12.

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.