Claro Advisors LLC Invests $296,000 in Prologis, Inc. (NYSE:PLD)

Claro Advisors LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) during the third quarter, Holdings Channel reports. The firm acquired 2,344 shares of the real estate investment trust’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in Prologis during the first quarter valued at approximately $596,614,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Prologis during the 2nd quarter valued at $203,223,000. AMF Tjanstepension AB boosted its stake in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after acquiring an additional 1,358,542 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Prologis by 137.7% during the second quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock worth $208,518,000 after purchasing an additional 1,075,614 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

Prologis Stock Performance

Shares of NYSE PLD opened at $114.65 on Tuesday. The business’s 50-day simple moving average is $121.03 and its 200-day simple moving average is $118.23. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. 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 market cap of $106.19 billion, a price-to-earnings ratio of 34.64, a P/E/G ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last released its quarterly earnings results 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business earned $1.30 EPS. The company’s revenue for the quarter 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 fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Argus upped their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Truist Financial boosted their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Evercore ISI raised their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.18.

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.