Ieq Capital LLC Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Ieq Capital LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.2% during the second quarter, Holdings Channel.com reports. The firm owned 31,660 shares of the real estate investment trust’s stock after purchasing an additional 380 shares during the quarter. Ieq Capital LLC’s holdings in Prologis were worth $3,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Prologis by 2.1% in the 2nd quarter. Brighton Jones LLC now owns 14,635 shares of the real estate investment trust’s stock valued at $1,644,000 after buying an additional 298 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Prologis during the second quarter valued at approximately $2,246,000. Elo Mutual Pension Insurance Co lifted its position in Prologis by 7.3% during the second quarter. Elo Mutual Pension Insurance Co now owns 90,594 shares of the real estate investment trust’s stock valued at $10,175,000 after acquiring an additional 6,169 shares during the last quarter. Mondrian Investment Partners LTD grew its holdings in Prologis by 205.5% in the second quarter. Mondrian Investment Partners LTD now owns 466,751 shares of the real estate investment trust’s stock worth $52,421,000 after purchasing an additional 313,964 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of Prologis by 6.1% during the second quarter. Blair William & Co. IL now owns 30,965 shares of the real estate investment trust’s stock worth $3,478,000 after purchasing an additional 1,779 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $125.47 on Friday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. 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 stock has a market cap of $116.17 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The business has a 50-day simple moving average of $125.48 and a 200-day simple moving average of $118.65.

Prologis (NYSE:PLD) last released its quarterly earnings data 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). The company had revenue of $2.01 billion during 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 prior year, the company posted $1.83 EPS. On average, equities analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PLD shares. Argus raised their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley boosted their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Wells Fargo & Company increased their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Evercore ISI boosted 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. Finally, The Goldman Sachs Group raised their price target on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.35.

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.