Ceredex Value Advisors LLC Purchases 151,059 Shares of Prologis, Inc. (NYSE:PLD)

Ceredex Value Advisors LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 48.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 461,620 shares of the real estate investment trust’s stock after acquiring an additional 151,059 shares during the period. Prologis accounts for 1.1% of Ceredex Value Advisors LLC’s holdings, making the stock its 23rd biggest position. Ceredex Value Advisors LLC’s holdings in Prologis were worth $58,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Phillips Wealth Planners LLC boosted its position in shares of Prologis by 26.0% in the 3rd quarter. Phillips Wealth Planners LLC now owns 4,219 shares of the real estate investment trust’s stock worth $536,000 after purchasing an additional 870 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Prologis by 35.3% during the third quarter. Farther Finance Advisors LLC now owns 8,846 shares of the real estate investment trust’s stock worth $1,117,000 after acquiring an additional 2,306 shares during the last quarter. Gladstone Institutional Advisory LLC increased its holdings in shares of Prologis by 3.7% during the third quarter. Gladstone Institutional Advisory LLC now owns 4,028 shares of the real estate investment trust’s stock valued at $509,000 after acquiring an additional 144 shares in the last quarter. Focus Financial Network Inc. purchased a new position in shares of Prologis in the 3rd quarter valued at approximately $299,000. Finally, Principal Securities Inc. boosted its stake in Prologis by 16.7% in the 3rd quarter. Principal Securities Inc. now owns 21,259 shares of the real estate investment trust’s stock worth $2,685,000 after purchasing an additional 3,045 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. BMO Capital Markets restated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Argus upped their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Evercore ISI raised their price target 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, Barclays cut their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Stock Up 0.4 %

NYSE:PLD opened at $113.41 on Friday. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average is $124.01 and its two-hundred day moving average is $117.31. The stock has a market capitalization of $105.04 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors 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 annualized dividend and a yield of 3.39%. Prologis’s payout ratio is 116.01%.

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.