Park Place Capital Corp Boosts Stake in Prologis, Inc. (NYSE:PLD)

Park Place Capital Corp grew its stake in Prologis, Inc. (NYSE:PLD) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,675 shares of the real estate investment trust’s stock after buying an additional 735 shares during the period. Park Place Capital Corp’s holdings in Prologis were worth $1,095,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLD. Traveka Wealth LLC bought a new stake in Prologis during the third quarter worth about $208,000. Dakota Community Bank & Trust NA increased its position in shares of Prologis by 7.7% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,161 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 154 shares during the last quarter. Greenfield Savings Bank raised its holdings in shares of Prologis by 11.9% during the 3rd quarter. Greenfield Savings Bank now owns 2,099 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 223 shares in the last quarter. Fulton Bank N.A. lifted its position in Prologis by 110.9% in the 3rd quarter. Fulton Bank N.A. now owns 23,409 shares of the real estate investment trust’s stock worth $2,956,000 after buying an additional 12,312 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in Prologis by 12.1% in the third quarter. Miracle Mile Advisors LLC now owns 16,960 shares of the real estate investment trust’s stock worth $2,142,000 after buying an additional 1,831 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. The Goldman Sachs Group lifted their price target on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Evercore ISI increased their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank upped their price objective on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Finally, Argus lifted their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $133.35.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

Prologis Stock Performance

Shares of NYSE PLD traded down $1.47 during trading on Tuesday, hitting $118.53. The company had a trading volume of 659,236 shares, compared to its average volume of 3,619,702. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. 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 firm has a market capitalization of $109.74 billion, a P/E ratio of 34.73, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. The stock has a 50 day simple moving average of $125.77 and a 200 day simple moving average of $118.02.

Prologis (NYSE:PLD) last released its earnings results 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 firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations 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 last year, the firm posted $1.83 EPS. As a group, analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.24%. Prologis’s payout ratio is 112.28%.

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.