Ballentine Partners LLC Acquires 1,199 Shares of Prologis, Inc. (NYSE:PLD)

Ballentine Partners LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 8.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,268 shares of the real estate investment trust’s stock after acquiring an additional 1,199 shares during the quarter. Ballentine Partners LLC’s holdings in Prologis were worth $1,928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Nordea Investment Management AB grew its holdings in Prologis by 380.0% in the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB grew its stake in Prologis by 9.2% during the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares during the last quarter. US Bancorp DE grew its stake in shares of Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after acquiring an additional 41,469 shares during the last quarter. Finally, Sunflower Bank N.A. acquired a new position in shares of Prologis during the third quarter valued at about $249,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred 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 sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price 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. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Argus lifted 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. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Performance

NYSE PLD opened at $117.52 on Friday. 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 twelve month low of $96.64 and a twelve month high of $137.52. The stock has a 50-day moving average of $125.17 and a 200 day moving average of $117.56. The stock has a market capitalization of $108.81 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last posted 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 36.37% and a return on equity of 4.88%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company posted $1.30 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side 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 was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. Prologis’s payout ratio is 112.28%.

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.