Empowered Funds LLC Purchases 18,807 Shares of Prologis, Inc. (NYSE:PLD)

Empowered Funds LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 117.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,755 shares of the real estate investment trust's stock after acquiring an additional 18,807 shares during the quarter. Empowered Funds LLC's holdings in Prologis were worth $4,389,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Swedbank AB bought a new stake in shares of Prologis during the 1st quarter valued at $596,614,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Prologis in the second quarter worth about $203,223,000. AMF Tjanstepension AB increased its position in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Prologis by 326.3% in the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock worth $199,343,000 after buying an additional 1,358,542 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of Prologis by 137.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust's stock valued at $208,518,000 after buying an additional 1,075,614 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Shares of Prologis stock traded up $1.23 during trading hours on Monday, reaching $114.65. The company's stock had a trading volume of 2,399,118 shares, compared to its average volume of 3,649,174. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The firm has a 50 day moving average price of $121.34 and a 200-day moving average price of $118.16. The stock has a market cap of $106.19 billion, a P/E ratio of 34.25, a P/E/G ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company 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%. The company's revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 earnings per share. On average, analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Monday, September 16th. Prologis's dividend payout ratio (DPR) is 116.01%.

Analysts Set New Price Targets

A number of research firms have commented on PLD. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. 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. Scotiabank cut their price target on Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a research note on Friday, October 25th. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a report on Monday, August 5th. Finally, Argus upped their price objective on Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $131.18.

Insider Activity

In related 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 transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

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.