Moors & Cabot Inc. Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Moors & Cabot Inc. increased its position in shares of Prologis, Inc. (NYSE:PLD) by 6.0% during the 3rd quarter, Holdings Channel reports. The firm owned 2,096 shares of the real estate investment trust’s stock after purchasing an additional 119 shares during the quarter. Moors & Cabot Inc.’s holdings in Prologis were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Swedbank AB raised its stake in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after acquiring an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Prologis by 36.1% in 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 buying an additional 43,235 shares during the period. Sunflower Bank N.A. purchased a new position in Prologis in the 3rd quarter valued at approximately $249,000. Cetera Advisors LLC raised its holdings in Prologis by 118.7% during 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. Finally, Abundance Wealth Counselors purchased a new stake in shares of Prologis during the second quarter worth $973,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 1.6 %

Shares of PLD stock opened at $115.80 on Friday. The business has a 50-day moving average of $119.75 and a 200 day moving average of $118.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The stock has a market capitalization of $107.25 billion, a PE ratio of 34.98, a P/E/G ratio of 3.00 and a beta of 1.08.

Prologis (NYSE:PLD) last released 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current 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 given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. Prologis’s dividend payout ratio is currently 116.01%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLD shares. Scotiabank reduced their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Evercore ISI boosted their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.25.

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.