Pacer Advisors Inc. Acquires 26,659 Shares of Prologis, Inc. (NYSE:PLD)

Pacer Advisors Inc. lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 333,299 shares of the real estate investment trust’s stock after acquiring an additional 26,659 shares during the quarter. Pacer Advisors Inc.’s holdings in Prologis were worth $37,433,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its holdings in Prologis by 4.4% in the fourth quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock worth $731,000 after purchasing an additional 233 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in Prologis by 61.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock worth $692,000 after acquiring an additional 1,995 shares in the last quarter. TrinityPoint Wealth LLC grew its stake in shares of Prologis by 18.0% in the fourth quarter. TrinityPoint Wealth LLC now owns 2,228 shares of the real estate investment trust’s stock worth $297,000 after acquiring an additional 340 shares during the last quarter. King Luther Capital Management Corp increased its stake in Prologis by 34.1% during the 4th quarter. King Luther Capital Management Corp now owns 8,655 shares of the real estate investment trust’s stock valued at $1,154,000 after purchasing an additional 2,203 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Prologis by 18.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 93,512 shares of the real estate investment trust’s stock worth $12,465,000 after buying an additional 14,603 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Shares of Prologis stock opened at $125.47 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a market cap of $116.17 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The stock has a 50 day moving average price of $125.48 and a 200-day moving average price of $118.65.

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 business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 EPS. Equities analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is 112.28%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the 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 transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of several recent analyst reports. Truist Financial boosted their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. 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 note on Wednesday, August 28th. The Goldman Sachs Group upped their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $133.35.

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.