Healthcare of Ontario Pension Plan Trust Fund Has $116.13 Million Holdings in Prologis, Inc. (NYSE:PLD)

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Prologis, Inc. (NYSE:PLD) by 547.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,034,000 shares of the real estate investment trust’s stock after acquiring an additional 874,411 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Prologis were worth $116,129,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Valeo Financial Advisors LLC raised its holdings in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Capital World Investors increased its position in Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after buying an additional 6,765,582 shares during the last quarter. Swedbank AB bought a new position in Prologis during the first quarter valued at about $596,614,000. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Prologis in the first quarter worth about $465,659,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis during the 2nd quarter worth about $203,223,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE PLD opened at $124.18 on Thursday. The firm has a market capitalization of $114.97 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 3.25 and a beta of 1.07. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The business has a fifty day simple moving average of $125.82 and a 200 day simple moving average of $118.24. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

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 analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue was down 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.09%. Prologis’s dividend payout ratio is currently 112.28%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PLD. Wells Fargo & Company boosted their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. BMO Capital Markets restated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. The Goldman Sachs Group raised their target price on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.