King Luther Capital Management Corp Has $7.44 Million Holdings in Prologis, Inc. (NYSE:PLD)

King Luther Capital Management Corp increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 165.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 58,895 shares of the real estate investment trust’s stock after acquiring an additional 36,693 shares during the quarter. King Luther Capital Management Corp’s holdings in Prologis were worth $7,437,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Semmax Financial Advisors Inc. acquired a new position in Prologis during the 2nd quarter worth $27,000. American Capital Advisory LLC bought a new position in Prologis in the second quarter valued at about $26,000. Central Valley Advisors LLC acquired a new stake in Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. raised its holdings in Prologis by 640.0% during the 2nd 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. Finally, Wetzel Investment Advisors Inc. acquired a new position in Prologis during the 2nd quarter valued at about $31,000. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

PLD stock opened at $113.97 on Friday. The stock has a 50-day moving average price of $120.04 and a two-hundred day moving average price of $118.24. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52. The stock has a market cap of $105.56 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced its 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 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 analyst estimates of $1.91 billion. During the same period in the prior year, the business posted $1.30 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Analysts Set New Price Targets

PLD has been the subject of several analyst reports. Evercore ISI lifted 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. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank dropped their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Wells Fargo & Company upped their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $131.25.

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.