Ieq Capital LLC Acquires 380 Shares of Prologis, Inc. (NYSE:PLD)

Ieq Capital LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,660 shares of the real estate investment trust’s stock after buying an additional 380 shares during the quarter. Ieq Capital LLC’s holdings in Prologis were worth $3,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Prologis by 2.1% in the 2nd quarter. Brighton Jones LLC now owns 14,635 shares of the real estate investment trust’s stock worth $1,644,000 after purchasing an additional 298 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Prologis in the second quarter worth about $2,246,000. Elo Mutual Pension Insurance Co lifted its position in shares of Prologis by 7.3% in the second quarter. Elo Mutual Pension Insurance Co now owns 90,594 shares of the real estate investment trust’s stock worth $10,175,000 after buying an additional 6,169 shares in the last quarter. Mondrian Investment Partners LTD boosted its stake in Prologis by 205.5% during the second quarter. Mondrian Investment Partners LTD now owns 466,751 shares of the real estate investment trust’s stock valued at $52,421,000 after buying an additional 313,964 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in Prologis by 6.1% during the 2nd quarter. Blair William & Co. IL now owns 30,965 shares of the real estate investment trust’s stock valued at $3,478,000 after buying an additional 1,779 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 2.4 %

NYSE:PLD opened at $125.47 on Friday. The company has a market cap of $116.17 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $125.48 and a 200-day simple moving average of $118.65.

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

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.06%. Prologis’s dividend payout ratio is currently 112.28%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLD. Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Evercore ISI increased their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. BMO Capital Markets restated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Barclays increased their price target on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Mizuho reduced their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.35.

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.