JB Capital LLC Buys 3,162 Shares of Prologis, Inc. (NYSE:PLD)

JB Capital LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 4.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 78,091 shares of the real estate investment trust’s stock after purchasing an additional 3,162 shares during the period. JB Capital LLC’s holdings in Prologis were worth $9,861,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Keudell Morrison Wealth Management bought a new stake in Prologis in the 3rd quarter worth $358,000. Jackson Square Capital LLC bought a new position in shares of Prologis during the third quarter valued at about $477,000. Graypoint LLC boosted its holdings in shares of Prologis by 31.9% during the third quarter. Graypoint LLC now owns 4,714 shares of the real estate investment trust’s stock worth $595,000 after purchasing an additional 1,141 shares during the period. Umpqua Bank grew its stake in shares of Prologis by 3.7% in the third quarter. Umpqua Bank now owns 5,015 shares of the real estate investment trust’s stock worth $633,000 after purchasing an additional 180 shares during the last quarter. Finally, Harvest Portfolios Group Inc. grew its stake in shares of Prologis by 94.5% in the third quarter. Harvest Portfolios Group Inc. now owns 8,345 shares of the real estate investment trust’s stock worth $1,054,000 after purchasing an additional 4,054 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 0.5 %

Prologis stock traded up $0.57 during mid-day trading on Thursday, hitting $114.31. The company had a trading volume of 251,955 shares, compared to its average volume of 3,637,248. Prologis, Inc. has a 12 month low of $101.11 and a 12 month 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 stock’s 50 day moving average price is $123.15 and its two-hundred day moving average price is $117.52. The company has a market capitalization of $105.87 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 2.97 and a beta of 1.08.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.30 earnings per share. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company 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 dividend yield of 3.36%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $124.00 to $127.00 in a report on Monday, August 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

About Prologis

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.