Lake Street Advisors Group LLC Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Lake Street Advisors Group LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,171 shares of the real estate investment trust’s stock after buying an additional 188 shares during the period. Lake Street Advisors Group LLC’s holdings in Prologis were worth $1,158,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PLD. Nordea Investment Management AB boosted its position in shares of Prologis by 380.0% in the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after purchasing an additional 263,649 shares during the period. Swedbank AB raised its stake in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in 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 valued at $18,305,000 after purchasing an additional 43,235 shares in the last quarter. US Bancorp DE raised its stake in Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after purchasing an additional 41,469 shares in the last quarter. Finally, Sunflower Bank N.A. purchased a new stake in shares of Prologis in the third quarter valued at $249,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PLD shares. Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 target price on shares of Prologis in a report on Monday, July 15th. JPMorgan Chase & Co. lowered their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Truist Financial increased their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Stock Down 2.4 %

Prologis stock opened at $117.52 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $108.81 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock’s fifty day moving average is $125.17 and its two-hundred day moving average is $117.56.

Prologis (NYSE:PLD) last posted 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). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 EPS. Analysts predict that Prologis, Inc. will post 5.42 EPS 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 issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

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.