Principal Securities Inc. Buys 3,045 Shares of Prologis, Inc. (NYSE:PLD)

Principal Securities Inc. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,259 shares of the real estate investment trust’s stock after purchasing an additional 3,045 shares during the period. Principal Securities Inc.’s holdings in Prologis were worth $2,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Swedbank AB bought a new position in shares of Prologis during the first quarter worth $596,614,000. Alphinity Investment Management Pty Ltd bought a new position in Prologis during the first quarter worth about $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Prologis in the second quarter valued at about $203,223,000. Vanguard Group Inc. increased its holdings in shares of 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 worth $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Finally, AMF Tjanstepension AB raised its position in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE PLD opened at $113.40 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.36 and a current ratio of 0.43. The stock has a 50 day moving average price of $124.01 and a 200 day moving average price of $117.33. The stock has a market capitalization of $105.03 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.08. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business posted $1.30 earnings per share. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. Prologis’s payout ratio is 116.01%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PLD. Morgan Stanley increased their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Argus increased their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank cut their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Barclays reduced their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis 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.