Prologis, Inc. (NYSE:PLD) Position Boosted by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,479 shares of the real estate investment trust’s stock after purchasing an additional 346 shares during the period. Agate Pass Investment Management LLC’s holdings in Prologis were worth $1,955,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Optimum Investment Advisors bought a new position in shares of Prologis during the first quarter worth about $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the second quarter worth about $27,000. American Capital Advisory LLC bought a new position in shares of Prologis during the second quarter worth about $26,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the second quarter worth about $29,000. Finally, Sunbelt Securities Inc. lifted its position in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

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 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Prologis Price Performance

NYSE PLD opened at $118.28 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 firm has a market capitalization of $109.52 billion, a PE ratio of 39.04, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company’s 50 day simple moving average is $125.49 and its 200 day simple moving average is $117.96.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.25%. Prologis’s dividend payout ratio (DPR) is 126.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PLD shares. Scotiabank raised their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Argus raised their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group raised their price target 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. 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.