Deseret Mutual Benefit Administrators Boosts Stake in Prologis, Inc. (NYSE:PLD)

Deseret Mutual Benefit Administrators lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 22.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 622 shares of the real estate investment trust’s stock after acquiring an additional 112 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Prologis were worth $70,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Prologis by 1.2% in the 1st 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 buying an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in Prologis by 182,067.2% in 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 buying an additional 48,850,448 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after buying an additional 365,904 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Prologis by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after buying an additional 123,902 shares in the last quarter. Finally, Norges Bank purchased a new position in Prologis in the 4th quarter valued at about $1,074,648,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 0.6 %

Prologis stock traded up $0.72 during trading on Thursday, hitting $128.99. The company had a trading volume of 120,263 shares, compared to its average volume of 3,609,680. 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. The company’s 50 day simple moving average is $122.05 and its 200-day simple moving average is $119.02. The stock has a market cap of $119.42 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 3.28 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $1.83 EPS. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.96 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 2.98%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

PLD has been the topic of a number of research reports. Barclays raised their price target on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Evercore ISI raised their target price on shares of Prologis from $122.00 to $124.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, StockNews.com raised shares of 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.12.

Prologis Company 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.