Prologis, Inc. (NYSE:PLD) Shares Acquired by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 50.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 738,366 shares of the real estate investment trust’s stock after purchasing an additional 247,974 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.08% of Prologis worth $82,926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Optimum Investment Advisors bought a new position in Prologis in the 1st quarter worth about $26,000. American Capital Advisory LLC acquired a new stake in Prologis in the 2nd quarter valued at approximately $26,000. True Wealth Design LLC bought a new stake in Prologis during the 4th quarter valued at $27,000. Central Valley Advisors LLC acquired a new position in Prologis during the 2nd quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis in the second quarter worth $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 2.4 %

PLD stock opened at $125.47 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a 50 day moving average of $125.48 and a two-hundred day moving average of $118.74. The company has a market cap of $116.17 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 3.36 and a beta of 1.07.

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

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.06%. 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 company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Mizuho decreased their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus upped their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Truist Financial boosted their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.