LPL Financial LLC Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

LPL Financial LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 24.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 814,914 shares of the real estate investment trust’s stock after purchasing an additional 158,211 shares during the quarter. LPL Financial LLC’s holdings in Prologis were worth $102,907,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after buying an additional 317,815 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after purchasing an additional 167,131 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Prologis by 16.3% during the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock valued at $767,398,000 after purchasing an additional 958,914 shares during the period. Swedbank AB boosted its holdings in Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Prologis by 12.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,237,322 shares of the real estate investment trust’s stock worth $475,894,000 after purchasing an additional 477,785 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD opened at $115.80 on Friday. 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 firm 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. The business’s 50 day moving average price is $119.75 and its 200-day moving average price is $118.39.

Prologis (NYSE:PLD) last announced its earnings results 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. As a group, equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLD. Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Morgan Stanley lifted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Wells Fargo & Company increased their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Finally, Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.