Modus Advisors LLC Purchases 227 Shares of Prologis, Inc. (NYSE:PLD)

Modus Advisors LLC raised its position in Prologis, Inc. (NYSE:PLD) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,837 shares of the real estate investment trust’s stock after buying an additional 227 shares during the quarter. Modus Advisors LLC’s holdings in Prologis were worth $485,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in Prologis during the 4th quarter worth approximately $27,000. Clear Street Markets LLC acquired a new position in shares of Prologis in the 4th quarter worth approximately $267,000. Bragg Financial Advisors Inc lifted its position in shares of Prologis by 0.5% in the 4th quarter. Bragg Financial Advisors Inc now owns 73,322 shares of the real estate investment trust’s stock worth $9,774,000 after purchasing an additional 359 shares during the period. Heitman Real Estate Securities LLC lifted its position in shares of Prologis by 0.6% in the 4th quarter. Heitman Real Estate Securities LLC now owns 1,448,041 shares of the real estate investment trust’s stock worth $193,024,000 after purchasing an additional 8,528 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PLD shares. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group boosted their target price 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. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Truist Financial boosted their target price 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. Seven research 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.71.

Prologis Stock Down 0.5 %

Shares of NYSE PLD traded down $0.64 during trading hours on Thursday, hitting $118.20. 792,526 shares of the stock were exchanged, compared to its average volume of 3,617,258. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a market cap of $109.43 billion, a PE ratio of 34.64, a PEG ratio of 3.25 and a beta of 1.07. The firm has a fifty day moving average price of $125.49 and a 200-day moving average price of $117.96. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business earned $1.83 EPS. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, sell-side analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.25%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction 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 transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

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.