Assetmark Inc. Buys 23,140 Shares of Prologis, Inc. (NYSE:PLD)

Assetmark Inc. grew its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 77.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,165 shares of the real estate investment trust's stock after purchasing an additional 23,140 shares during the period. Assetmark Inc.'s holdings in Prologis were worth $6,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. ASB Consultores LLC increased its holdings in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust's stock worth $306,000 after purchasing an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV lifted its holdings in Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust's stock worth $1,299,000 after buying an additional 87 shares during the period. CX Institutional boosted its holdings in Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust's stock valued at $423,000 after purchasing an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA lifted its stake in Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust's stock valued at $228,000 after buying an additional 90 shares in the last quarter. Finally, Destination Wealth Management increased its holdings in shares of Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust's stock worth $228,000 after buying an additional 92 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of PLD traded down $1.35 during trading hours on Tuesday, hitting $112.75. The stock had a trading volume of 2,705,761 shares, compared to its average volume of 3,643,530. The stock has a fifty day moving average price of $122.42 and a 200 day moving average price of $117.85. 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 12 month low of $101.11 and a 12 month high of $137.52. The firm has a market capitalization of $104.43 billion, a PE ratio of 34.47, a PEG ratio of 3.04 and a beta of 1.08.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.91 billion. During the same period last year, the company earned $1.30 earnings per share. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.41%. The ex-dividend date was Monday, September 16th. Prologis's payout ratio is currently 116.01%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm's stock in a transaction that occurred 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 sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America reiterated a "neutral" rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Morgan Stanley increased their target price on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Finally, Barclays cut their target price on Prologis from $142.00 to $131.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $131.12.

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.