Cape ANN Savings Bank Acquires 1,618 Shares of Prologis, Inc. (NYSE:PLD)

Cape ANN Savings Bank grew its holdings in Prologis, Inc. (NYSE:PLD) by 59.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,353 shares of the real estate investment trust’s stock after buying an additional 1,618 shares during the quarter. Cape ANN Savings Bank’s holdings in Prologis were worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Optimum Investment Advisors bought a new stake in Prologis during the 1st quarter valued at $26,000. American Capital Advisory LLC purchased a new position in shares of Prologis in the second quarter valued at $26,000. True Wealth Design LLC bought a new stake in shares of Prologis during the 4th quarter valued at $27,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the 2nd quarter worth about $27,000. Finally, Central Valley Advisors LLC purchased a new stake in Prologis during the 2nd quarter worth about $29,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PLD shares. Morgan Stanley lifted their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Evercore ISI raised their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company increased their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.35.

Prologis Stock Performance

Shares of NYSE PLD opened at $119.32 on Wednesday. The stock’s 50-day moving average is $125.77 and its 200 day moving average is $118.02. The stock has a market cap of $110.47 billion, a price-to-earnings ratio of 34.89, a P/E/G ratio of 3.25 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. 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 posted its quarterly earnings results 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the business posted $1.83 earnings per share. The company’s revenue was down 18.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

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 dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.22%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the 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 completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company 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.