HighTower Advisors LLC Purchases 27,923 Shares of Prologis, Inc. (NYSE:PLD)

HighTower Advisors LLC grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 19.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,928 shares of the real estate investment trust's stock after acquiring an additional 27,923 shares during the period. HighTower Advisors LLC's holdings in Prologis were worth $21,500,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Prologis by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust's stock worth $1,483,594,000 after purchasing an additional 317,815 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Prologis by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust's stock valued at $1,377,588,000 after acquiring an additional 167,131 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust's stock valued at $1,291,743,000 after acquiring an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Prologis by 16.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust's stock valued at $767,398,000 after acquiring an additional 958,914 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Down 1.6 %

NYSE PLD traded down $1.79 on Friday, reaching $112.00. The company had a trading volume of 3,650,844 shares, compared to its average volume of 3,499,513. The firm has a market capitalization of $103.73 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. 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, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company's fifty day moving average is $117.57 and its 200-day moving average is $118.86.

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 return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The company's quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.43%. Prologis's dividend payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent research reports. BMO Capital Markets cut shares of Prologis from a "market perform" rating to an "underperform" rating and dropped their target price for the company from $120.00 to $104.00 in a research report on Friday. Barclays upped their target price on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Morgan Stanley upped their target price on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Scotiabank decreased their price target on shares of Prologis from $136.00 to $134.00 and set a "sector outperform" rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $130.13.

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.