Summit Trail Advisors LLC Acquires 2,002 Shares of Prologis, Inc. (NYSE:PLD)

Summit Trail Advisors LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 19.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,444 shares of the real estate investment trust’s stock after purchasing an additional 2,002 shares during the period. Summit Trail Advisors LLC’s holdings in Prologis were worth $1,571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. American Capital Advisory LLC bought a new stake in shares of Prologis during the second quarter valued at approximately $26,000. Semmax Financial Advisors Inc. bought a new position in Prologis in the 2nd quarter valued at $27,000. Central Valley Advisors LLC bought a new position in Prologis in the second quarter valued at about $29,000. Sunbelt Securities Inc. raised its stake in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis during the 2nd quarter valued at $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PLD shares. JPMorgan Chase & Co. cut their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank cut their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Truist Financial increased their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.25.

Prologis Stock Performance

Shares of NYSE PLD opened at $115.80 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 stock has a 50 day moving average of $119.75 and a 200-day moving average of $118.48. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company has a market capitalization of $107.25 billion, a P/E ratio of 34.98, a P/E/G ratio of 3.00 and a beta of 1.08.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that Prologis, Inc. will post 5.45 EPS for the current 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 $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is currently 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.