Creative Planning Has $12.65 Million Position in Prologis, Inc. (NYSE:PLD)

Creative Planning grew its holdings in Prologis, Inc. (NYSE:PLD) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,154 shares of the real estate investment trust’s stock after buying an additional 15,510 shares during the quarter. Creative Planning’s holdings in Prologis were worth $12,647,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after buying an additional 317,815 shares in the last quarter. Principal Financial Group Inc. grew its stake in Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after buying an additional 167,131 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of Prologis by 5.7% during the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after buying an additional 367,565 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PLD shares. Scotiabank raised their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Barclays reduced their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $131.47.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $117.77 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $109.04 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The stock’s 50-day moving average is $125.39 and its 200-day moving average is $117.56. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 EPS. Equities analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.26%. Prologis’s payout ratio is currently 112.28%.

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.