Prologis, Inc. (NYSE:PLD) Stake Lowered by National Bank of Canada FI

National Bank of Canada FI lowered its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 806,559 shares of the real estate investment trust's stock after selling 15,451 shares during the quarter. National Bank of Canada FI owned about 0.09% of Prologis worth $101,852,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PLD. Swedbank AB grew its position in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust's stock valued at $561,805,000 after acquiring an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock worth $18,305,000 after purchasing an additional 43,235 shares during the period. Sunflower Bank N.A. acquired a new position in Prologis during the third quarter valued at approximately $249,000. Abundance Wealth Counselors purchased a new position in Prologis in the second quarter valued at about $973,000. Finally, Coronation Fund Managers Ltd. purchased a new position in Prologis in the 2nd quarter worth approximately $878,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

NYSE:PLD traded down $1.79 during trading hours on Friday, reaching $112.00. 3,650,844 shares of the company's stock were exchanged, compared to its average volume of 3,499,513. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $103.73 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The business's 50-day simple moving average is $117.57 and its two-hundred day simple moving average is $118.93.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.96 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.43%. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLD. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Bank of America reissued a "neutral" rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Scotiabank lowered their price objective on shares of Prologis from $136.00 to $134.00 and set a "sector outperform" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. Finally, Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $130.13.

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.