Atlanta Consulting Group Advisors LLC Makes New $693,000 Investment in Prologis, Inc. (NYSE:PLD)

Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,488 shares of the real estate investment trust's stock, valued at approximately $693,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust's stock worth $1,483,594,000 after buying an additional 317,815 shares during the period. Principal Financial Group Inc. raised its holdings in Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust's stock worth $1,377,588,000 after purchasing an additional 167,131 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Prologis by 16.3% during the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust's stock worth $767,398,000 after purchasing an additional 958,914 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Prologis by 5.9% in the first quarter. Lazard Asset Management LLC now owns 6,126,318 shares of the real estate investment trust's stock valued at $797,767,000 after purchasing an additional 340,948 shares during the last quarter. Finally, Capital Research Global Investors increased its position in shares of Prologis by 0.8% in the first quarter. Capital Research Global Investors now owns 5,340,371 shares of the real estate investment trust's stock valued at $695,423,000 after buying an additional 43,538 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PLD. Wells Fargo & Company increased their price target on shares of Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research report on Wednesday, August 28th. Royal Bank of Canada downgraded Prologis from an "outperform" rating to a "sector perform" rating and upped their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Bank of America reiterated a "neutral" rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a report on Monday, August 5th. Finally, Barclays decreased their price target on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $131.12.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company's stock, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

Prologis Stock Down 1.2 %

NYSE:PLD traded down $1.33 on Friday, reaching $113.42. The stock had a trading volume of 3,889,491 shares, compared to its average volume of 3,764,149. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The stock has a market cap of $105.05 billion, a P/E ratio of 34.27, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $121.34 and a 200 day moving average of $118.05.

Prologis (NYSE:PLD - Get Free Report) 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same period in the prior year, the company posted $1.30 EPS. The company's revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. Prologis's dividend payout ratio (DPR) 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.