L & S Advisors Inc Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

L & S Advisors Inc lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 41.7% during the third quarter, Holdings Channel reports. The institutional investor owned 27,789 shares of the real estate investment trust’s stock after purchasing an additional 8,184 shares during the period. L & S Advisors Inc’s holdings in Prologis were worth $3,509,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. LPL Financial LLC lifted its stake in shares of Prologis by 24.1% during the 3rd quarter. LPL Financial LLC now owns 814,914 shares of the real estate investment trust’s stock valued at $102,907,000 after buying an additional 158,211 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Prologis by 9.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 197,854 shares of the real estate investment trust’s stock valued at $24,985,000 after buying an additional 16,310 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Prologis by 165.3% in the 3rd quarter. King Luther Capital Management Corp now owns 58,895 shares of the real estate investment trust’s stock worth $7,437,000 after purchasing an additional 36,693 shares in the last quarter. Cornerstone Advisors LLC lifted its stake in Prologis by 263.6% in the 3rd quarter. Cornerstone Advisors LLC now owns 8,000 shares of the real estate investment trust’s stock worth $1,010,000 after purchasing an additional 5,800 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its stake in Prologis by 6.0% in the 3rd quarter. Moors & Cabot Inc. now owns 2,096 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Morgan Stanley boosted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $131.18.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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 completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Prologis Price Performance

NYSE PLD opened at $114.54 on Thursday. The firm’s fifty day simple moving average is $120.36 and its two-hundred day simple moving average is $118.27. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The firm has a market capitalization of $106.08 billion, a P/E ratio of 34.60, a P/E/G ratio of 3.03 and a beta of 1.08.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share 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 analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.30 earnings per share. Analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.35%. Prologis’s dividend payout ratio is presently 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.