Bank of Montreal Can Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Bank of Montreal Can lowered its position in Prologis, Inc. (NYSE:PLD) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,678,251 shares of the real estate investment trust’s stock after selling 80,566 shares during the period. Bank of Montreal Can’s holdings in Prologis were worth $336,362,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. American Capital Advisory LLC purchased a new stake in Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new stake in Prologis during the second quarter worth $27,000. Central Valley Advisors LLC purchased a new position in Prologis in the second quarter worth $29,000. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Prologis during the 2nd quarter valued at $31,000. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Evercore ISI lifted their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank lowered their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $131.25.

Prologis Price Performance

Shares of PLD stock traded up $3.04 during trading on Monday, hitting $118.84. The company had a trading volume of 811,355 shares, compared to its average volume of 3,618,907. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The stock has a market capitalization of $110.07 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08. The stock’s 50-day moving average is $119.75 and its two-hundred day moving average is $118.48.

Prologis (NYSE:PLD) last issued its quarterly earnings results 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 period last year, the firm earned $1.30 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

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.