Hilton Capital Management LLC Has $9.24 Million Holdings in Prologis, Inc. (NYSE:PLD)

Hilton Capital Management LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 56.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,159 shares of the real estate investment trust's stock after buying an additional 26,459 shares during the quarter. Hilton Capital Management LLC's holdings in Prologis were worth $9,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. American Capital Advisory LLC bought a new position in shares of Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the second quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $29,000. Sunbelt Securities Inc. raised its position in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in Prologis during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors 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 that occurred 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 sale, the executive now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLD. Morgan Stanley upped their price target on Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. Royal Bank of Canada lowered Prologis from an "outperform" rating to a "sector perform" rating and lifted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Bank of America reiterated a "neutral" rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. The Goldman Sachs Group reiterated a "neutral" rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $131.18.

Prologis Trading Down 0.5 %

Shares of PLD traded down $0.59 during mid-day trading on Wednesday, reaching $114.54. The company had a trading volume of 2,799,349 shares, compared to its average volume of 3,642,293. The stock has a market cap of $106.08 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The firm has a fifty day simple moving average of $120.69 and a 200-day simple moving average of $118.30. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week 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.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results 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 during 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 revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Monday, September 16th. Prologis's dividend payout ratio is currently 116.01%.

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.