Rockefeller Capital Management L.P. Purchases 1,441 Shares of Prologis, Inc. (NYSE:PLD)

Rockefeller Capital Management L.P. grew its position in Prologis, Inc. (NYSE:PLD) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 518,965 shares of the real estate investment trust’s stock after buying an additional 1,441 shares during the period. Rockefeller Capital Management L.P. owned 0.06% of Prologis worth $65,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB boosted its position in shares of Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares in the last quarter. Sunflower Bank N.A. purchased a new stake in shares of Prologis during the third quarter worth about $249,000. Cetera Advisors LLC increased its holdings in shares of Prologis by 118.7% during the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after acquiring an additional 20,623 shares in the last quarter. Finally, Abundance Wealth Counselors purchased a new position in shares of Prologis in the 2nd quarter valued at approximately $973,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Finally, Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

Prologis Stock Performance

PLD opened at $116.75 on Friday. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The firm has a market capitalization of $108.13 billion, a PE ratio of 35.27, a PEG ratio of 3.44 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. The firm’s 50-day moving average price is $118.70 and its 200 day moving average price is $118.66.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 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 company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued 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 3.29%. Prologis’s payout ratio is 116.01%.

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.