Prologis, Inc. (NYSE:PLD) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 38.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,952 shares of the real estate investment trust’s stock after acquiring an additional 16,512 shares during the quarter. AGF Management Ltd.’s holdings in Prologis were worth $6,733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PLD. Nordea Investment Management AB lifted its holdings in Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after buying an additional 263,649 shares in the last quarter. Swedbank AB lifted its holdings in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after buying an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after buying an additional 43,235 shares in the last quarter. Atalanta Sosnoff Capital LLC acquired a new position in Prologis in the 4th quarter worth $18,551,000. Finally, US Bancorp DE lifted its holdings in Prologis by 6.5% in the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after buying an additional 41,469 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on PLD shares. The Goldman Sachs Group boosted their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Barclays boosted their target price on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI boosted their target price on shares of Prologis from $122.00 to $124.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $133.12.

Prologis Stock Performance

Shares of PLD opened at $130.35 on Friday. The firm has a fifty day moving average of $124.11 and a 200-day moving average of $118.96. The company has a market cap of $120.68 billion, a price-to-earnings ratio of 38.11, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion for 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 company’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, equities analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 2.95%. Prologis’s payout ratio is 112.28%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s 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 transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.