Good Life Advisors LLC Acquires 501 Shares of Prologis, Inc. (NYSE:PLD)

Good Life Advisors LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.5% during the 3rd quarter, Holdings Channel reports. The fund owned 9,613 shares of the real estate investment trust’s stock after purchasing an additional 501 shares during the period. Good Life Advisors LLC’s holdings in Prologis were worth $1,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB boosted its position in Prologis by 380.0% during the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after purchasing an additional 263,649 shares in the last quarter. Swedbank AB boosted 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 valued at $561,805,000 after buying an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of 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 last quarter. US Bancorp DE raised its stake in shares of Prologis by 6.5% during the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after acquiring an additional 41,469 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in Prologis by 5.7% during the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after acquiring an additional 367,565 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Down 3.3 %

NYSE PLD opened at $122.74 on Friday. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $113.64 billion, a PE ratio of 35.89, a P/E/G ratio of 3.05 and a beta of 1.07. The company has a fifty day moving average of $125.42 and a 200 day moving average of $117.76.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion during 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 business’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 EPS. Research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current 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 paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. Prologis’s payout ratio is 112.28%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the 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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PLD. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Truist Financial increased their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Barclays lowered their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.71.

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.