Simon Quick Advisors LLC Has $290,000 Stock Position in Prologis, Inc. (NYSE:PLD)

Simon Quick Advisors LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 29.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,581 shares of the real estate investment trust’s stock after purchasing an additional 582 shares during the period. Simon Quick Advisors LLC’s holdings in Prologis were worth $290,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC lifted its stake in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Norges Bank acquired a new position in Prologis during the 4th quarter worth $1,074,648,000. Capital World Investors boosted its holdings in Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after acquiring an additional 6,765,582 shares during the period. Swedbank AB acquired a new stake in shares of Prologis in the first quarter valued at about $596,614,000. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in shares of Prologis in the first quarter valued at about $465,659,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on PLD shares. Argus increased 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. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Scotiabank upped their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Finally, The Goldman Sachs Group boosted their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.12.

Prologis Price Performance

NYSE:PLD opened at $127.41 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $117.96 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 3.28 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company’s 50-day moving average price is $122.37 and its two-hundred day moving average price is $119.07.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $1.83 earnings per share. The firm’s revenue was down 18.1% compared to the same quarter last year. On average, equities analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.96 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.01%. Prologis’s dividend payout ratio is 112.28%.

Insider Buying and Selling

In other 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 transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by corporate 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.