First Foundation Advisors Increases Stake in Prologis, Inc. (NYSE:PLD)

First Foundation Advisors raised its position in Prologis, Inc. (NYSE:PLD) by 1,873.9% in the 2nd quarter, Holdings Channel reports. The fund owned 38,866 shares of the real estate investment trust’s stock after acquiring an additional 36,897 shares during the period. First Foundation Advisors’ holdings in Prologis were worth $4,365,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. increased its position in Prologis by 4.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock worth $731,000 after purchasing an additional 233 shares during the period. Gryphon Financial Partners LLC grew its holdings in Prologis by 61.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock worth $692,000 after acquiring an additional 1,995 shares during the period. Wealthspire Advisors LLC purchased a new position in Prologis in the fourth quarter worth $259,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Prologis by 75.8% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,950 shares of the real estate investment trust’s stock valued at $393,000 after acquiring an additional 1,272 shares during the period. Finally, AGF Management Ltd. boosted its position in shares of Prologis by 41.5% during the 4th quarter. AGF Management Ltd. now owns 43,741 shares of the real estate investment trust’s stock worth $5,831,000 after purchasing an additional 12,820 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLD. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Argus increased their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Scotiabank boosted their price target on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Evercore ISI raised their price objective on Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Barclays lifted their price objective on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

Prologis Trading Down 0.1 %

Shares of Prologis stock opened at $127.23 on Monday. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The business’s fifty day moving average is $122.67 and its two-hundred day moving average is $118.83. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $117.80 billion, a PE ratio of 37.20, a P/E/G ratio of 3.27 and a beta of 1.07.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $1.83 earnings per share. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. Analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

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

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.