Prologis, Inc. (NYSE:PLD) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 20.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,217 shares of the real estate investment trust's stock after buying an additional 26,802 shares during the period. Prologis accounts for about 0.6% of Metis Global Partners LLC's portfolio, making the stock its 23rd largest position. Metis Global Partners LLC's holdings in Prologis were worth $19,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in Prologis during the 1st quarter valued at about $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis in the 2nd quarter valued at about $203,223,000. Vanguard Group Inc. boosted its holdings in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust's stock valued at $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. AMF Tjanstepension AB boosted its holdings in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock valued at $199,343,000 after buying an additional 1,358,542 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Bank of America restated a "neutral" rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Argus lifted their target price on shares of Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Evercore ISI lifted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a report on Friday, October 25th. Finally, 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 report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $131.12.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the 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 sale, the executive now directly owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company's stock.

Prologis Stock Down 1.6 %

Shares of PLD stock traded down $1.82 during trading on Thursday, reaching $114.75. The company's stock had a trading volume of 4,594,235 shares, compared to its average volume of 3,653,681. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $106.28 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.96 and a beta of 1.08. The stock's 50-day moving average price is $121.87 and its 200 day moving average price is $117.90. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter last year, the company earned $1.30 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

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 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 dividend yield of 3.35%. Prologis's dividend payout ratio (DPR) is presently 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.