Prudent Man Advisors LLC Buys 651 Shares of Prologis, Inc. (NYSE:PLD)

Prudent Man Advisors LLC increased its position in Prologis, Inc. (NYSE:PLD) by 3.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 20,674 shares of the real estate investment trust’s stock after purchasing an additional 651 shares during the period. Prologis accounts for 0.9% of Prudent Man Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Prudent Man Advisors LLC’s holdings in Prologis were worth $2,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. M&G Plc bought a new position in Prologis in the first quarter worth approximately $378,000. Jacobi Capital Management LLC increased its holdings in shares of Prologis by 11.4% in the first quarter. Jacobi Capital Management LLC now owns 2,918 shares of the real estate investment trust’s stock valued at $380,000 after purchasing an additional 298 shares during the period. O Shaughnessy Asset Management LLC raised its position in Prologis by 36.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 72,817 shares of the real estate investment trust’s stock worth $9,482,000 after buying an additional 19,450 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Prologis by 1.4% during the first quarter. Bessemer Group Inc. now owns 2,404,789 shares of the real estate investment trust’s stock worth $313,151,000 after purchasing an additional 33,531 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Prologis by 23.5% in the 1st quarter. Lake Street Advisors Group LLC now owns 8,944 shares of the real estate investment trust’s stock valued at $1,165,000 after buying an additional 1,700 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 1.2 %

PLD opened at $113.42 on Monday. 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 has a 50-day moving average price of $121.34 and a two-hundred day moving average price of $118.16. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The stock has a market capitalization of $105.05 billion, a PE ratio of 34.27, a PEG ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last posted 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 return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business posted $1.30 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Evercore ISI upped their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Argus raised 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. JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Bank of America reaffirmed a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Insider Buying and Selling

In related 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 value of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by insiders.

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.