Oppenheimer & Co. Inc. Acquires 1,153 Shares of Prologis, Inc. (NYSE:PLD)

Oppenheimer & Co. Inc. boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,719 shares of the real estate investment trust’s stock after buying an additional 1,153 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Prologis were worth $7,794,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB raised 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 purchasing an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Sunflower Bank N.A. purchased a new stake in Prologis in the 3rd quarter worth about $249,000. Centersquare Investment Management LLC increased its holdings in Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after acquiring an additional 367,565 shares during the last quarter. Finally, Cetera Advisors LLC raised its stake in 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 acquiring an additional 20,623 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PLD. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Argus upped their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Evercore ISI upped their price target 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, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Performance

Shares of PLD stock opened at $116.56 on Thursday. The firm has a market capitalization of $107.95 billion, a PE ratio of 35.21, a P/E/G ratio of 2.96 and a beta of 1.08. The company has a 50 day moving average price of $122.11 and a 200-day moving average price of $117.91. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last released its quarterly 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 net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the company earned $1.30 earnings per share. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

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 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.