IHT Wealth Management LLC Increases Stock Position in Prologis, Inc. (NYSE:PLD)

IHT Wealth Management LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 20.4% in the 3rd quarter, Holdings Channel reports. The firm owned 10,532 shares of the real estate investment trust’s stock after purchasing an additional 1,781 shares during the period. IHT Wealth Management LLC’s holdings in Prologis were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC lifted its position in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after acquiring an additional 2,138,693 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Prologis in the 2nd quarter valued at approximately $203,223,000. AMF Tjanstepension AB increased its holdings in shares of Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after purchasing an additional 1,358,542 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PLD shares. 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. Evercore ISI boosted their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Truist Financial reduced their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday. Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.81.

Prologis Stock Performance

NYSE PLD opened at $113.78 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The business has a fifty day moving average of $117.84 and a 200-day moving average of $118.81. The stock has a market cap of $105.38 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 3.40 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share 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 analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. As a group, analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Monday, December 16th. Prologis’s payout ratio is 116.01%.

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.