Benjamin Edwards Inc. Boosts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Benjamin Edwards Inc. raised its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 736.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,641 shares of the real estate investment trust's stock after purchasing an additional 20,815 shares during the quarter. Benjamin Edwards Inc.'s holdings in Prologis were worth $2,986,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Erste Asset Management GmbH bought a new stake in Prologis in the 3rd quarter worth about $16,052,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Prologis by 569.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 414,273 shares of the real estate investment trust's stock valued at $52,314,000 after acquiring an additional 352,412 shares during the last quarter. Eventide Asset Management LLC bought a new stake in shares of Prologis in the third quarter worth approximately $4,001,000. Rockefeller Capital Management L.P. raised its holdings in shares of Prologis by 0.3% during the third quarter. Rockefeller Capital Management L.P. now owns 518,965 shares of the real estate investment trust's stock valued at $65,538,000 after purchasing an additional 1,441 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its position in Prologis by 10.6% during the third quarter. Vinva Investment Management Ltd now owns 47,163 shares of the real estate investment trust's stock valued at $5,923,000 after purchasing an additional 4,502 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. Truist Financial reduced their target price on shares of Prologis from $137.00 to $132.00 and set a "buy" rating for the company in a report on Thursday. Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. The Goldman Sachs Group restated a "neutral" rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Scotiabank lowered their price objective on Prologis from $136.00 to $134.00 and set a "sector outperform" rating on the stock in a research report on Wednesday. Finally, Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.81.

Prologis Stock Performance

Shares of NYSE PLD traded down $1.27 during trading on Thursday, reaching $113.78. 2,510,223 shares of the company traded hands, compared to its average volume of 3,650,609. 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 $105.38 billion, a P/E ratio of 34.25, a PEG ratio of 3.40 and a beta of 1.07. The firm's fifty day simple moving average is $118.07 and its 200 day simple moving average is $118.84. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

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 the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. As a group, research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Monday, December 16th. Prologis's payout ratio is 116.01%.

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.