Prologis, Inc. (NYSE:PLD) Stake Boosted by MGO One Seven LLC

MGO One Seven LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,510 shares of the real estate investment trust’s stock after purchasing an additional 521 shares during the period. MGO One Seven LLC’s holdings in Prologis were worth $1,180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. Headlands Technologies LLC bought a new stake in Prologis in the second quarter valued at $53,000. Coldstream Capital Management Inc. boosted its stake in Prologis by 9.4% during the 2nd quarter. Coldstream Capital Management Inc. now owns 49,508 shares of the real estate investment trust’s stock valued at $5,560,000 after purchasing an additional 4,246 shares during the period. Gryphon Financial Partners LLC boosted its stake in Prologis by 14.0% during the 2nd quarter. Gryphon Financial Partners LLC now owns 6,248 shares of the real estate investment trust’s stock valued at $702,000 after purchasing an additional 767 shares during the period. Malaga Cove Capital LLC grew its position in Prologis by 21.0% in the 2nd quarter. Malaga Cove Capital LLC now owns 3,088 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 535 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Prologis by 16.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock valued at $767,398,000 after purchasing an additional 958,914 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $130.35 on Friday. The company has a 50-day moving average of $124.11 and a two-hundred day moving average of $118.96. The stock has a market cap of $120.68 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 3.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 earnings per share. On average, equities research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 2.95%. Prologis’s payout ratio is presently 112.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PLD shares. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Mizuho cut their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Wells Fargo & Company upped their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Finally, Evercore ISI raised their target price on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.12.

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.