Plato Investment Management Ltd Buys 1,212 Shares of Prologis, Inc. (NYSE:PLD)

Plato Investment Management Ltd boosted its stake in Prologis, Inc. (NYSE:PLD) by 4.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 30,333 shares of the real estate investment trust’s stock after acquiring an additional 1,212 shares during the quarter. Plato Investment Management Ltd’s holdings in Prologis were worth $3,407,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arbor Capital Management Inc. ADV increased its stake in shares of Prologis by 0.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after buying an additional 87 shares during the period. Mitchell Sinkler & Starr PA increased its position in Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 90 shares during the period. Destination Wealth Management raised its stake in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 92 shares during the last quarter. CVA Family Office LLC lifted its holdings in shares of Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 94 shares during the period. Finally, Tiemann Investment Advisors LLC grew its stake in shares of Prologis by 2.4% in the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $129.98 on Friday. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $124.42 and a 200-day moving average price of $118.85. The company has a market cap of $120.34 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings results 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 company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 earnings per share. Equities analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI boosted their target price on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average target price of $133.12.

Insiders Place Their Bets

In other Prologis 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 transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by insiders.

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.