BNP Paribas Purchases 7,740 Shares of Prologis, Inc. (NYSE:PLD)

BNP Paribas raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,211 shares of the real estate investment trust's stock after buying an additional 7,740 shares during the quarter. BNP Paribas' holdings in Prologis were worth $18,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLD. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter worth $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the 2nd quarter worth about $27,000. Central Valley Advisors LLC bought a new position in Prologis in the 2nd quarter worth about $29,000. Sunbelt Securities Inc. grew its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Trading Down 1.6 %

NYSE:PLD opened at $116.16 on Wednesday. The stock has a market cap of $107.58 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.45 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 company's 50 day moving average price is $119.27 and its 200-day moving average price is $118.61. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52.

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

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, September 16th. Prologis's payout ratio is presently 116.01%.

Analyst Ratings Changes

Several brokerages recently commented on PLD. Bank of America reaffirmed a "neutral" rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Wells Fargo & Company upped their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a report on Wednesday, August 28th. Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Finally, Truist Financial lifted their price target on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.25.

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.

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