Prologis, Inc. (NYSE:PLD) Shares Bought by Swiss National Bank

Swiss National Bank grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,748,208 shares of the real estate investment trust’s stock after acquiring an additional 9,400 shares during the quarter. Swiss National Bank’s holdings in Prologis were worth $347,044,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. ASB Consultores LLC boosted its position in Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 86 shares during the period. Arbor Capital Management Inc. ADV boosted its position in 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 acquiring an additional 87 shares during the period. CX Institutional boosted its position in Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 88 shares during the period. Mitchell Sinkler & Starr PA boosted its position in Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 90 shares during the period. Finally, Destination Wealth Management boosted its position in 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 acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 1.2 %

NYSE:PLD opened at $113.42 on Friday. The firm has a market capitalization of $105.05 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average price is $121.34 and its 200 day moving average price is $118.05.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, sell-side analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared 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. This represents a $3.84 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated 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 directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

PLD has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Argus upped their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays cut their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis 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.