ProShare Advisors LLC Buys 9,579 Shares of Prologis, Inc. (NYSE:PLD)

ProShare Advisors LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 177,022 shares of the real estate investment trust’s stock after buying an additional 9,579 shares during the period. ProShare Advisors LLC’s holdings in Prologis were worth $19,881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its position in Prologis by 4.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock valued at $731,000 after purchasing an additional 233 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of Prologis by 61.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock valued at $692,000 after buying an additional 1,995 shares during the last quarter. TrinityPoint Wealth LLC increased its position in shares of Prologis by 18.0% during the fourth quarter. TrinityPoint Wealth LLC now owns 2,228 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 340 shares in the last quarter. Intech Investment Management LLC raised its holdings in Prologis by 68.6% in the 4th quarter. Intech Investment Management LLC now owns 11,041 shares of the real estate investment trust’s stock worth $1,472,000 after acquiring an additional 4,491 shares during the last quarter. Finally, Hilltop Holdings Inc. raised its holdings in Prologis by 1.3% in the 4th quarter. Hilltop Holdings Inc. now owns 9,004 shares of the real estate investment trust’s stock worth $1,200,000 after acquiring an additional 113 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $126.63 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a market cap of $117.24 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 3.36 and a beta of 1.07. The company’s 50 day moving average is $125.59 and its two-hundred day moving average is $118.50.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, research analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.03%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Mizuho lowered their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Wells Fargo & Company lifted their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, Truist Financial increased their price objective 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 investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.35.

Insider Buying and Selling

In other Prologis 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 completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.