MBB Public Markets I LLC Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

MBB Public Markets I LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 1,903.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 65,466 shares of the real estate investment trust’s stock after acquiring an additional 62,199 shares during the period. MBB Public Markets I LLC’s holdings in Prologis were worth $7,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PLD. Optimum Investment Advisors purchased a new position in Prologis during the first quarter worth about $26,000. American Capital Advisory LLC acquired a new stake in shares of Prologis in the 2nd quarter valued at approximately $26,000. True Wealth Design LLC purchased a new stake in shares of Prologis in the fourth quarter valued at approximately $27,000. Semmax Financial Advisors Inc. acquired a new position in Prologis during the second quarter worth $27,000. Finally, Central Valley Advisors LLC purchased a new position in Prologis in the second quarter worth $29,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLD. The Goldman Sachs Group boosted their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI upped their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Mizuho dropped their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Barclays boosted their price target on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Seven equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Stock Up 0.3 %

Shares of NYSE PLD opened at $125.58 on Friday. The firm has a market cap of $116.27 billion, a P/E ratio of 36.72, a price-to-earnings-growth ratio of 3.25 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. The firm’s 50 day moving average price is $125.83 and its 200 day moving average price is $118.48.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.06%. Prologis’s payout ratio is currently 112.28%.

Insider Buying and Selling

In related 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 completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.