Erste Asset Management GmbH Purchases New Holdings in Prologis, Inc. (NYSE:PLD)

Erste Asset Management GmbH acquired a new position in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 127,809 shares of the real estate investment trust’s stock, valued at approximately $16,052,000.

Other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Prologis in the second quarter worth about $203,223,000. AMF Tjanstepension AB boosted its position in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares during the last quarter. Federated Hermes Inc. grew its stake in Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after acquiring an additional 1,358,542 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Prologis by 137.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock valued at $208,518,000 after acquiring an additional 1,075,614 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 0.9 %

Shares of NYSE PLD opened at $116.78 on Monday. 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 stock has a market capitalization of $108.16 billion, a PE ratio of 35.28, a PEG ratio of 3.41 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The stock has a fifty day simple moving average of $118.70 and a 200-day simple moving average of $118.80.

Prologis (NYSE:PLD) last released its 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 firm had revenue of $1.90 billion during 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 business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. On average, equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued 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 3.29%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Truist Financial lifted their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.25.

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.