Waverton Investment Management Ltd raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,976 shares of the real estate investment trust's stock after purchasing an additional 27,545 shares during the period. Waverton Investment Management Ltd's holdings in Prologis were worth $39,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position 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 valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Dimensional Fund Advisors LP raised its position in Prologis by 2.5% during 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 purchasing an additional 317,815 shares during the period. Principal Financial Group Inc. grew its stake in shares of 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 valued at $1,377,588,000 after buying an additional 167,131 shares during the last quarter. Centersquare Investment Management LLC grew its stake 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 valued at $890,728,000 after buying an additional 367,565 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Prologis by 16.3% during the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust's stock valued at $767,398,000 after buying an additional 958,914 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on PLD. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Wells Fargo & Company upped their target price on Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research note on Wednesday, August 28th. StockNews.com raised Prologis from a "sell" rating to a "hold" rating in a research note on Thursday, July 18th. Bank of America reissued a "neutral" rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Finally, Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, nine 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 has a consensus rating of "Moderate Buy" and a consensus price target of $131.12.
Read Our Latest Research Report on Prologis
Shares of NYSE PLD opened at $114.10 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $105.68 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 3.04 and a beta of 1.08. The stock's fifty day simple moving average is $122.69 and its two-hundred day simple moving average is $117.77. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52.
Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter in the prior year, the company posted $1.30 EPS. The business's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.37%. Prologis's dividend payout ratio (DPR) is 116.01%.
In related news, CIO Joseph Ghazal sold 5,200 shares of the firm's stock in a transaction on 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 SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.
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.
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