Prologis, Inc. (NYSE:PLD) Stock Position Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 728,921 shares of the real estate investment trust’s stock after purchasing an additional 9,147 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Prologis worth $92,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ASB Consultores LLC grew its position in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 86 shares in the last quarter. Arbor Capital Management Inc. ADV grew its position in Prologis by 0.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 87 shares in the last quarter. CX Institutional grew its position in Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA boosted its holdings in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares during the period. Finally, Destination Wealth Management boosted its holdings in shares of Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 92 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 1.4 %

Shares of PLD stock opened at $117.81 on Thursday. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The stock has a market cap of $109.11 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 3.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a fifty day moving average of $119.09 and a 200-day moving average of $118.61.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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 business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company posted $1.30 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is 116.01%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Barclays upped their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Wells Fargo & Company upped their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Finally, Evercore ISI upped their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. 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 data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target 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.