5,488 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 5,488 shares of the real estate investment trust’s stock, valued at approximately $693,000.

Several other hedge funds have also added to or reduced their stakes in the company. Natixis Advisors LLC lifted its holdings in Prologis by 16.1% during the 3rd quarter. Natixis Advisors LLC now owns 1,371,225 shares of the real estate investment trust’s stock worth $173,159,000 after purchasing an additional 189,742 shares during the last quarter. Coastline Trust Co acquired a new stake in Prologis during the 3rd quarter worth approximately $52,000. Empowered Funds LLC lifted its holdings in Prologis by 117.9% during the 3rd quarter. Empowered Funds LLC now owns 34,755 shares of the real estate investment trust’s stock worth $4,389,000 after purchasing an additional 18,807 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in Prologis by 5.0% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 183,424 shares of the real estate investment trust’s stock valued at $23,163,000 after acquiring an additional 8,766 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Prologis by 11.3% in the 3rd quarter. CIBC Asset Management Inc now owns 187,992 shares of the real estate investment trust’s stock valued at $23,740,000 after acquiring an additional 19,029 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PLD. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Barclays dropped their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Prologis Trading Down 1.2 %

Shares of PLD stock opened at $113.42 on Friday. The firm has a market capitalization of $105.05 billion, a P/E ratio of 34.27, a P/E/G ratio of 3.06 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month 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. The stock’s fifty day simple moving average is $121.34 and its 200 day simple moving average is $118.05.

Prologis (NYSE:PLD) last issued 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 firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, sell-side analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is presently 116.01%.

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.