Prologis, Inc. (NYSE:PLD) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Prologis, Inc. (NYSE:PLD) by 60.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 177,184 shares of the real estate investment trust’s stock after acquiring an additional 66,498 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Prologis were worth $19,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $27,000. Optimum Investment Advisors purchased a new stake in Prologis in the 1st quarter valued at approximately $26,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis during the 2nd quarter valued at $27,000. American Capital Advisory LLC purchased a new position in Prologis during the second quarter worth $26,000. Finally, Clear Investment Research LLC raised its holdings in shares of Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on PLD shares. Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Argus upped their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.35.

Prologis Stock Performance

NYSE PLD opened at $126.68 on Wednesday. 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 1-year low of $96.64 and a 1-year high of $137.52. The firm has a market capitalization of $117.29 billion, a P/E ratio of 37.04, a P/E/G ratio of 3.36 and a beta of 1.07. The business’s 50-day simple moving average is $125.70 and its 200-day simple moving average is $118.45.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share 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 business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm earned $1.83 earnings per share. The company’s quarterly revenue was down 18.1% on a year-over-year basis. Equities analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.96 per share. 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 3.03%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was 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 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 available through this link. 0.50% of the stock is owned by insiders.

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.