Capital Square LLC Raises Stake in Prologis, Inc. (NYSE:PLD)

Capital Square LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 5.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 14,940 shares of the real estate investment trust’s stock after buying an additional 746 shares during the period. Prologis makes up about 1.1% of Capital Square LLC’s investment portfolio, making the stock its 21st largest position. Capital Square LLC’s holdings in Prologis were worth $1,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Swedbank AB purchased a new position in shares of Prologis in the 1st quarter valued at $596,614,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Prologis in the 2nd quarter valued at $203,223,000. AMF Tjanstepension AB raised its position in 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 valued at $236,879,000 after purchasing an additional 1,365,811 shares during the period. Federated Hermes Inc. lifted its stake in shares of Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after purchasing an additional 1,358,542 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Prologis by 137.7% in the second quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock worth $208,518,000 after buying an additional 1,075,614 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD traded up $2.64 during midday trading on Monday, hitting $118.44. 350,945 shares of the stock traded hands, compared to its average volume of 3,618,196. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $109.70 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08. The business’s 50 day moving average price is $119.75 and its two-hundred day moving average price is $118.48.

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

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLD. Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. JPMorgan Chase & Co. lowered their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Scotiabank reduced their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Finally, Truist Financial upped their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis 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.