BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 16,310 Shares of Prologis, Inc. (NYSE:PLD)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Prologis, Inc. (NYSE:PLD) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,854 shares of the real estate investment trust’s stock after buying an additional 16,310 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Prologis were worth $24,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Swedbank AB bought a new position in shares of Prologis during the 1st quarter valued at $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Prologis during the second quarter valued at about $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 worth $236,879,000 after buying an additional 1,365,811 shares during the period. Federated Hermes Inc. lifted its stake in shares of Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after acquiring an additional 1,358,542 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Prologis by 137.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock valued at $208,518,000 after acquiring an additional 1,075,614 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLD. Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Scotiabank dropped their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Bank of America reissued a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Finally, 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. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

Prologis Trading Up 1.6 %

NYSE:PLD opened at $115.76 on Friday. The firm has a market capitalization of $107.21 billion, a P/E ratio of 34.97, a PEG ratio of 3.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company’s 50-day simple moving average is $119.75 and its 200 day simple moving average is $118.32.

Prologis (NYSE:PLD) last posted its quarterly 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 company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 EPS. As a group, analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Monday, September 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.