Masterton Capital Management LP Purchases 89,481 Shares of Prologis, Inc. (NYSE:PLD)

Masterton Capital Management LP raised its holdings in Prologis, Inc. (NYSE:PLD) by 155.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,181 shares of the real estate investment trust’s stock after purchasing an additional 89,481 shares during the quarter. Prologis accounts for about 11.8% of Masterton Capital Management LP’s holdings, making the stock its biggest position. Masterton Capital Management LP’s holdings in Prologis were worth $16,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new stake in shares of Prologis during the 4th quarter worth $27,000. Optimum Investment Advisors purchased a new position in Prologis in the first quarter valued at about $26,000. American Capital Advisory LLC acquired a new stake in shares of Prologis during the 2nd quarter valued at approximately $26,000. Clear Investment Research LLC boosted its stake in shares of Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares in the last quarter. Finally, Central Valley Advisors LLC acquired a new position in Prologis during the second quarter worth $29,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $126.63 on Tuesday. The company has a market capitalization of $117.24 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The business has a 50-day moving average of $125.59 and a 200-day moving average of $118.50. 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 (NYSE:PLD) last posted its 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 return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, equities analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.03%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Barclays increased their price objective on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Bank of America restated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Truist Financial boosted their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Evercore ISI increased their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Seven research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated 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 owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

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.