CIBC Asset Management Inc Purchases 19,029 Shares of Prologis, Inc. (NYSE:PLD)

CIBC Asset Management Inc lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,992 shares of the real estate investment trust's stock after purchasing an additional 19,029 shares during the period. CIBC Asset Management Inc's holdings in Prologis were worth $23,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLD. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the second quarter valued at about $27,000. American Capital Advisory LLC acquired a new stake in shares of Prologis during the second quarter valued at approximately $26,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis in the 2nd quarter valued at approximately $29,000. Sunbelt Securities Inc. boosted its stake in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis during the 2nd quarter worth approximately $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company's stock in a transaction 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 completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company's stock.

Prologis Stock Performance

Prologis stock traded down $1.33 during trading hours on Friday, reaching $113.42. 3,889,491 shares of the company were exchanged, compared to its average volume of 3,654,745. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. 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 stock has a 50-day moving average of $121.34 and a 200 day moving average of $117.94. The firm has a market cap of $105.05 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 3.06 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 (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 the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

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. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.39%. Prologis's payout ratio is 116.01%.

Wall Street Analyst Weigh In

PLD has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Bank of America reissued a "neutral" rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Royal Bank of Canada downgraded shares of Prologis from an "outperform" rating to a "sector perform" rating and boosted their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 28th. Finally, Truist Financial lifted their target price on shares of Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.