12,400 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd purchased a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 12,400 shares of the real estate investment trust's stock, valued at approximately $1,566,000.

A number of other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Prologis in the 1st quarter valued at $352,000. Empowered Funds LLC increased its holdings in shares of Prologis by 18.6% during the first quarter. Empowered Funds LLC now owns 13,911 shares of the real estate investment trust's stock worth $1,811,000 after purchasing an additional 2,185 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Prologis during the 1st quarter valued at $1,211,000. Atomi Financial Group Inc. increased its stake in shares of Prologis by 25.0% in the 1st quarter. Atomi Financial Group Inc. now owns 2,368 shares of the real estate investment trust's stock valued at $308,000 after purchasing an additional 474 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Prologis by 6.0% during the 1st quarter. Meeder Asset Management Inc. now owns 2,446 shares of the real estate investment trust's stock valued at $319,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

Shares of PLD traded down $1.35 during trading hours on Tuesday, reaching $112.75. 2,674,733 shares of the company traded hands, compared to its average volume of 3,643,530. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The stock has a market cap of $104.43 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 3.04 and a beta of 1.08. The stock's fifty day moving average is $122.42 and its 200 day moving average is $117.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD - Get Free Report) last issued 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). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. Equities research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued 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 3.41%. Prologis's payout ratio is currently 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent research reports. Royal Bank of Canada cut shares of Prologis from an "outperform" rating to a "sector perform" rating and raised their price target for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Morgan Stanley lifted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Barclays cut their price objective on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. Bank of America reissued a "neutral" rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Finally, StockNews.com raised Prologis from a "sell" rating to a "hold" rating in a report on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.12.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis 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 completion of the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

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.