Invested Advisors Takes Position in Prologis, Inc. $PLD

Invested Advisors bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,254 shares of the real estate investment trust’s stock, valued at approximately $449,000.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Prologis by 0.3% during the second quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust’s stock worth $12,797,449,000 after buying an additional 401,922 shares during the last quarter. State Street Corp raised its holdings in shares of Prologis by 1.9% in the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after acquiring an additional 1,088,544 shares during the last quarter. Geode Capital Management LLC lifted its position in Prologis by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock valued at $2,345,922,000 after acquiring an additional 310,333 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Prologis by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after acquiring an additional 253,338 shares in the last quarter. Finally, Norges Bank bought a new stake in Prologis during the 2nd quarter worth approximately $1,288,936,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 1.2%

Prologis stock opened at $128.38 on Friday. The firm has a 50 day moving average price of $127.06 and a 200-day moving average price of $117.36. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $131.70. The company has a market capitalization of $119.25 billion, a P/E ratio of 37.43, a P/E/G ratio of 3.72 and a beta of 1.40.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.21 billion for the quarter. As a group, equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.1%. Prologis’s dividend payout ratio (DPR) is 117.78%.

Insider Activity

In related news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director directly owned 8,208 shares in the company, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James B. Connor sold 80,000 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 81,121 shares of company stock valued at $10,267,210. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLD. Barclays dropped their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a research note on Monday, October 20th. Wells Fargo & Company upped their target price on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Truist Financial reissued a “buy” rating and set a $131.00 price target (up from $120.00) on shares of Prologis in a research report on Monday, October 20th. Finally, Scotiabank boosted their price target on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.18.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.