Prologis, Inc. (NYSE:PLD) Stock Position Boosted by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 18.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,990 shares of the real estate investment trust’s stock after buying an additional 2,301 shares during the period. Bleakley Financial Group LLC’s holdings in Prologis were worth $1,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLD. Valeo Financial Advisors LLC increased its position in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Swedbank AB acquired a new stake in shares of Prologis during the first quarter worth approximately $596,614,000. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Prologis during the first quarter worth approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Prologis during the second quarter worth approximately $203,223,000. Finally, Vanguard Group Inc. lifted its stake in Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’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 transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by company insiders.

Prologis Stock Down 0.2 %

PLD stock opened at $122.50 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $113.42 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 3.05 and a beta of 1.07. The business’s fifty day moving average price is $125.43 and its two-hundred day moving average price is $117.66. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group boosted their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Scotiabank boosted their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. 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, BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Seven 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, Prologis presently has an average rating of “Moderate Buy” and an average price target of $132.71.

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.