BNP Paribas Purchases 7,740 Shares of Prologis, Inc. (NYSE:PLD)

BNP Paribas raised its position in shares of Prologis, Inc. (NYSE:PLD) by 5.6% in the third quarter, HoldingsChannel reports. The firm owned 146,211 shares of the real estate investment trust’s stock after buying an additional 7,740 shares during the quarter. BNP Paribas’ holdings in Prologis were worth $18,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PLD. B. Riley Wealth Advisors Inc. raised its stake in Prologis by 48.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 20,792 shares of the real estate investment trust’s stock worth $2,708,000 after acquiring an additional 6,780 shares during the period. Beacon Capital Management LLC raised its position in shares of Prologis by 379.1% during the 1st quarter. Beacon Capital Management LLC now owns 872 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 690 shares during the period. New Covenant Trust Company N.A. bought a new stake in shares of Prologis during the 1st quarter valued at $232,000. Wahed Invest LLC lifted its stake in shares of Prologis by 17.3% during the 1st quarter. Wahed Invest LLC now owns 18,307 shares of the real estate investment trust’s stock valued at $2,384,000 after buying an additional 2,701 shares in the last quarter. Finally, Pacific Center for Financial Services purchased a new stake in Prologis in the 1st quarter worth $154,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 1.6 %

Shares of NYSE PLD opened at $116.16 on Wednesday. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $107.58 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.45 and a beta of 1.08. The business’s 50 day moving average price is $119.27 and its 200-day moving average price is $118.61.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $1.30 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued 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 yield of 3.31%. Prologis’s payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the topic of several research analyst reports. Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Truist Financial boosted their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Scotiabank lowered their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Eight research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.25.

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.