Sanctuary Advisors LLC Purchases 16,831 Shares of Prologis, Inc. (NYSE:PLD)

Sanctuary Advisors LLC grew its position in Prologis, Inc. (NYSE:PLD) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 184,692 shares of the real estate investment trust’s stock after purchasing an additional 16,831 shares during the period. Sanctuary Advisors LLC’s holdings in Prologis were worth $21,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in Prologis in the 2nd quarter valued at approximately $54,000. Miracle Mile Advisors LLC lifted its position in shares of Prologis by 6.3% in the second quarter. Miracle Mile Advisors LLC now owns 15,129 shares of the real estate investment trust’s stock worth $1,699,000 after purchasing an additional 893 shares in the last quarter. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis in the second quarter worth $878,000. Blue Trust Inc. boosted its holdings in Prologis by 28.7% during the second quarter. Blue Trust Inc. now owns 16,610 shares of the real estate investment trust’s stock worth $1,865,000 after purchasing an additional 3,706 shares during the last quarter. Finally, Stanley Laman Group Ltd. grew its position in Prologis by 4.0% in the second quarter. Stanley Laman Group Ltd. now owns 28,994 shares of the real estate investment trust’s stock valued at $3,256,000 after purchasing an additional 1,126 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PLD. JPMorgan Chase & Co. reduced their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Raymond James reissued an “outperform” rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Truist Financial cut their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Finally, Scotiabank lowered their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Prologis has a consensus rating of “Hold” and an average price target of $128.88.

Prologis Price Performance

Shares of NYSE PLD opened at $111.68 on Friday. The firm has a market cap of $103.44 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The business’s 50 day moving average is $116.67 and its 200-day moving average is $118.96. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. Equities research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

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.