Resources Management Corp CT ADV Has $3.24 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Resources Management Corp CT ADV increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,819 shares of the real estate investment trust’s stock after buying an additional 1,265 shares during the quarter. Resources Management Corp CT ADV’s holdings in Prologis were worth $3,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Investment Services Inc. lifted its holdings in shares of Prologis by 12.3% during the 2nd quarter. American Investment Services Inc. now owns 6,303 shares of the real estate investment trust’s stock valued at $708,000 after purchasing an additional 690 shares in the last quarter. Anomaly Capital Management LP bought a new position in Prologis in the second quarter valued at approximately $67,710,000. Public Sector Pension Investment Board lifted its position in Prologis by 17.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 128,628 shares of the real estate investment trust’s stock valued at $14,446,000 after acquiring an additional 19,305 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Prologis during the second quarter worth about $225,000. Finally, Gabelli Funds LLC boosted its position in Prologis by 3.6% during the 2nd quarter. Gabelli Funds LLC now owns 3,205 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 110 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on PLD. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Morgan Stanley raised their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group upped their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Argus raised their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $133.35.

Prologis Trading Up 0.9 %

PLD opened at $126.63 on Tuesday. The company’s 50 day moving average is $125.59 and its 200-day moving average is $118.50. The company has a market cap of $117.24 billion, a P/E ratio of 37.03, a PEG ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year 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.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company earned $1.83 EPS. Prologis’s revenue for the quarter was down 18.1% on a year-over-year basis. Equities 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 given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Insider Activity

In other 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 transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Company 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.