Prologis, Inc. (NYSE:PLD) Shares Bought by Creative Planning

Creative Planning increased its stake in Prologis, Inc. (NYSE:PLD) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,644 shares of the real estate investment trust’s stock after purchasing an additional 1,401 shares during the quarter. Creative Planning’s holdings in Prologis were worth $9,506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Duff & Phelps Investment Management Co. lifted its holdings in Prologis by 1.2% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 2,864,258 shares of the real estate investment trust’s stock valued at $321,685,000 after acquiring an additional 33,960 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc raised its holdings in Prologis by 7.1% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 57,855 shares of the real estate investment trust’s stock worth $6,498,000 after buying an additional 3,840 shares during the period. Alethea Capital Management LLC purchased a new stake in Prologis during the second quarter valued at about $449,000. Susquehanna Fundamental Investments LLC lifted its stake in Prologis by 2,870.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 276,263 shares of the real estate investment trust’s stock valued at $31,027,000 after buying an additional 266,963 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. increased its position in shares of Prologis by 2.5% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 85,277 shares of the real estate investment trust’s stock worth $9,577,000 after acquiring an additional 2,104 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other 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 value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PLD shares. Truist Financial upped their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays increased their price objective on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Finally, The Goldman Sachs Group raised their target price on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Stock Down 1.3 %

Shares of PLD opened at $124.63 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The company has a 50-day simple moving average of $125.80 and a 200-day simple moving average of $118.20. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The firm has a market capitalization of $115.39 billion, a P/E ratio of 36.44, a P/E/G ratio of 3.25 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during 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 company’s revenue was down 18.1% on a year-over-year basis. During the same period last year, the company earned $1.83 EPS. On average, equities research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 112.28%.

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.