Cardano Risk Management B.V. Makes New Investment in Prologis, Inc. (NYSE:PLD)

Cardano Risk Management B.V. acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 867,743 shares of the real estate investment trust's stock, valued at approximately $109,579,000. Prologis accounts for 1.9% of Cardano Risk Management B.V.'s holdings, making the stock its 18th biggest holding. Cardano Risk Management B.V. owned approximately 0.09% of Prologis at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. ASB Consultores LLC grew its stake 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 acquiring an additional 86 shares in the last quarter. Arbor Capital Management Inc. ADV raised its position in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust's stock valued at $1,299,000 after purchasing an additional 87 shares in the last quarter. CX Institutional boosted its stake in shares of Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust's stock valued at $423,000 after buying an additional 88 shares during the period. Mitchell Sinkler & Starr PA boosted its stake in shares of 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 during the period. Finally, Destination Wealth Management grew its position in shares of Prologis by 4.7% during the second 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 in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business's stock in a transaction dated 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 directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PLD shares. Royal Bank of Canada downgraded shares of Prologis from an "outperform" rating to a "sector perform" rating and lifted their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Morgan Stanley increased their target price on Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price target on Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Finally, Scotiabank dropped their price objective on Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.12.

Prologis Stock Performance

Shares of Prologis stock traded down $1.33 during trading on Friday, reaching $113.42. The company's stock had a trading volume of 3,889,491 shares, compared to its average volume of 3,764,149. The company has a 50-day moving average price of $121.34 and a two-hundred day moving average price of $118.16. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The firm has a market cap of $105.05 billion, a PE ratio of 34.27, a P/E/G 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.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Monday, September 16th. Prologis's payout ratio is currently 116.01%.

Prologis Company 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.