Prologis, Inc. (NYSE:PLD) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its stake in Prologis, Inc. (NYSE:PLD) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,132 shares of the real estate investment trust’s stock after buying an additional 202 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Prologis were worth $522,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Swedbank AB lifted its holdings 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 acquiring an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Prologis by 36.1% during 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 buying an additional 43,235 shares during the period. Sunflower Bank N.A. acquired a new stake in shares of Prologis in the third quarter valued at $249,000. Cetera Advisors LLC raised its holdings in shares of Prologis by 118.7% in the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after buying an additional 20,623 shares during the period. Finally, Abundance Wealth Counselors acquired a new position in Prologis during the 2nd quarter worth about $973,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of a number of research reports. Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. 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. Finally, JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Eight investment 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Stock Down 1.6 %

Shares of NYSE:PLD opened at $116.16 on Wednesday. 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 simple moving average of $119.27 and a 200-day simple moving average of $118.61. The company has a market capitalization of $107.58 billion, a PE ratio of 35.09, a P/E/G ratio of 3.05 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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 analysts’ expectations of $1.91 billion. During the same period in the previous year, the business posted $1.30 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Prologis Company 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.