American Assets Capital Advisers LLC Acquires 8,475 Shares of Prologis, Inc. (NYSE:PLD)

American Assets Capital Advisers LLC lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 72.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,144 shares of the real estate investment trust's stock after purchasing an additional 8,475 shares during the period. Prologis comprises 0.8% of American Assets Capital Advisers LLC's holdings, making the stock its 28th biggest holding. American Assets Capital Advisers LLC's holdings in Prologis were worth $2,544,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLD. Quantbot Technologies LP acquired a new position in shares of Prologis in the 1st quarter worth approximately $352,000. Empowered Funds LLC boosted its holdings in shares of Prologis by 18.6% in the first quarter. Empowered Funds LLC now owns 13,911 shares of the real estate investment trust's stock worth $1,811,000 after buying an additional 2,185 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Prologis in the first quarter worth about $1,211,000. Atomi Financial Group Inc. boosted its holdings in shares of Prologis by 25.0% in the first quarter. Atomi Financial Group Inc. now owns 2,368 shares of the real estate investment trust's stock worth $308,000 after buying an additional 474 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Prologis by 6.0% in the first quarter. Meeder Asset Management Inc. now owns 2,446 shares of the real estate investment trust's stock worth $319,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling

In related 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 transaction, the executive now owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on PLD shares. Argus raised their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Scotiabank decreased their target price on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a report on Friday, October 25th. Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a report on Wednesday, August 28th. Barclays decreased their price target on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating for the company in a report on Thursday, October 10th. Finally, Evercore ISI raised their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average target price of $131.12.

Prologis Stock Performance

Shares of NYSE:PLD traded down $1.35 during trading on Tuesday, reaching $112.75. The stock had a trading volume of 2,674,733 shares, compared to its average volume of 3,643,530. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The firm has a market capitalization of $104.43 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 3.04 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $122.42 and a two-hundred day simple moving average of $117.85.

Prologis (NYSE:PLD - Get Free Report) last released 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business earned $1.30 EPS. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Monday, September 16th. Prologis's dividend 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.