Canada Pension Plan Investment Board Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Canada Pension Plan Investment Board raised its position in shares of Prologis, Inc. (NYSE:PLD) by 12.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,237,322 shares of the real estate investment trust’s stock after acquiring an additional 477,785 shares during the period. Canada Pension Plan Investment Board owned approximately 0.46% of Prologis worth $475,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Optimum Investment Advisors purchased a new stake in shares of Prologis during the 1st quarter worth approximately $26,000. American Capital Advisory LLC bought a new position in shares of Prologis during the 2nd quarter valued at approximately $26,000. True Wealth Design LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the 2nd quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. bought a new position in Prologis in the 2nd quarter valued at $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of PLD stock opened at $128.51 on Friday. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The stock’s 50-day moving average is $125.38 and its 200 day moving average is $118.80. The company has a market cap of $118.98 billion, a P/E ratio of 37.58, a PEG ratio of 3.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 EPS. Research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PLD shares. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Argus upped their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Mizuho cut their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Scotiabank upped their price objective on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Seven 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. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $133.35.

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.