Prologis, Inc. (NYSE:PLD) Shares Acquired by Verity & Verity LLC

Verity & Verity LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 1.2% in the 3rd quarter, Holdings Channel reports. The fund owned 103,569 shares of the real estate investment trust’s stock after purchasing an additional 1,190 shares during the period. Verity & Verity LLC’s holdings in Prologis were worth $13,079,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Caprock Group LLC boosted its stake in Prologis by 1.7% in the 3rd quarter. Caprock Group LLC now owns 14,226 shares of the real estate investment trust’s stock worth $1,797,000 after buying an additional 236 shares during the last quarter. Pathstone Holdings LLC increased its position in Prologis by 0.6% during the third quarter. Pathstone Holdings LLC now owns 99,551 shares of the real estate investment trust’s stock worth $12,571,000 after purchasing an additional 557 shares during the last quarter. Napa Wealth Management grew its stake in shares of Prologis by 21.4% during the 3rd quarter. Napa Wealth Management now owns 2,432 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 429 shares during the period. Strengthening Families & Communities LLC increased its holdings in shares of Prologis by 9.3% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,194 shares of the real estate investment trust’s stock worth $2,171,000 after buying an additional 1,458 shares during the last quarter. Finally, Prudent Man Advisors LLC raised its position in shares of Prologis by 3.3% in the 3rd quarter. Prudent Man Advisors LLC now owns 20,674 shares of the real estate investment trust’s stock worth $2,611,000 after buying an additional 651 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore ISI upped their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Argus boosted their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Truist Financial lifted their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Scotiabank cut their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Finally, Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.18.

Prologis Stock Up 1.1 %

NYSE:PLD opened at $114.65 on Tuesday. The stock has a 50-day simple moving average of $121.03 and a 200 day simple moving average of $118.23. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a market capitalization of $106.19 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business earned $1.30 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

Insider Buying and Selling

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 transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

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.