New York Life Investment Management LLC Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

New York Life Investment Management LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,343 shares of the real estate investment trust’s stock after purchasing an additional 9,547 shares during the period. New York Life Investment Management LLC’s holdings in Prologis were worth $22,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Arizona State Retirement System lifted its holdings in shares of Prologis by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 268,177 shares of the real estate investment trust’s stock valued at $30,119,000 after buying an additional 3,028 shares during the period. Victory Capital Management Inc. grew its holdings in Prologis by 10.3% in the second quarter. Victory Capital Management Inc. now owns 786,874 shares of the real estate investment trust’s stock valued at $88,374,000 after purchasing an additional 73,593 shares during the period. MCF Advisors LLC grew its position in shares of Prologis by 5.5% in the second quarter. MCF Advisors LLC now owns 5,325 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 279 shares during the period. Waverton Investment Management Ltd raised its position in shares of Prologis by 18.9% during the 2nd quarter. Waverton Investment Management Ltd now owns 288,431 shares of the real estate investment trust’s stock worth $32,401,000 after purchasing an additional 45,774 shares during the last quarter. Finally, Crumly & Associates Inc. increased its stake in Prologis by 5.8% during the 2nd quarter. Crumly & Associates Inc. now owns 9,131 shares of the real estate investment trust’s stock worth $1,025,000 after buying an additional 504 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by insiders.

Prologis Stock Down 0.2 %

Prologis stock opened at $127.21 on Friday. The stock has a market cap of $117.78 billion, a PE ratio of 37.20, a P/E/G ratio of 3.28 and a beta of 1.07. 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 stock’s fifty day moving average is $122.67 and its two-hundred day moving average is $119.03. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business posted $1.83 EPS. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, sell-side analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Analysts Set New Price Targets

PLD has been the topic of several recent research reports. Barclays lifted their target price on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. 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. Truist Financial upped their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.12.

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.