Verity & Verity LLC Has $10.91 Million Position in Prologis, Inc. (NYSE:PLD)

Verity & Verity LLC boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 17.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 97,147 shares of the real estate investment trust’s stock after acquiring an additional 14,678 shares during the period. Verity & Verity LLC’s holdings in Prologis were worth $10,911,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Nordea Investment Management AB increased its holdings in Prologis by 380.0% in the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB lifted its holdings in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after acquiring an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after acquiring an additional 43,235 shares during the period. US Bancorp DE raised its position in shares of Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after purchasing an additional 41,469 shares during the period. Finally, Centersquare Investment Management LLC raised its position in shares of Prologis by 5.7% during the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after purchasing an additional 367,565 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Price Performance

Prologis stock opened at $124.63 on Wednesday. The stock’s fifty day moving average price is $125.80 and its two-hundred day moving average price is $118.20. The firm has a market cap of $115.39 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 3.25 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, Inc. has a one year low of $96.64 and a one year high of $137.52.

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 analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm earned $1.83 EPS. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, research analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

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

Analysts Set New Price Targets

PLD has been the topic of a number of research reports. Argus lifted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Truist Financial upped their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.