Versant Capital Management Inc Acquires 677 Shares of Prologis, Inc. (NYSE:PLD)

Versant Capital Management Inc boosted its holdings in Prologis, Inc. (NYSE:PLD) by 537.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 803 shares of the real estate investment trust’s stock after purchasing an additional 677 shares during the quarter. Versant Capital Management Inc’s holdings in Prologis were worth $85,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sunflower Bank N.A. purchased a new stake in Prologis in the 3rd quarter valued at $249,000. Coronation Fund Managers Ltd. purchased a new stake in shares of Prologis in the second quarter valued at about $878,000. DekaBank Deutsche Girozentrale lifted its position in shares of Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after purchasing an additional 29,400 shares in the last quarter. Cardano Risk Management B.V. bought a new position in shares of Prologis during the third quarter valued at about $109,579,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in Prologis during the third quarter worth about $1,051,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Raymond James reissued an “outperform” rating and issued a $125.00 price objective (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Truist Financial cut their price target on shares of Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Finally, Evercore ISI raised their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $128.88.

Prologis Trading Up 1.3 %

Shares of Prologis stock opened at $105.63 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The firm has a market cap of $97.83 billion, a PE ratio of 31.91, a PEG ratio of 3.27 and a beta of 1.07. The company has a 50 day simple moving average of $111.89 and a two-hundred day simple moving average of $118.54.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (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 the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. Analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is currently 116.01%.

Prologis 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.