National Bank of Canada FI Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

National Bank of Canada FI boosted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 30.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 822,010 shares of the real estate investment trust's stock after buying an additional 193,369 shares during the quarter. National Bank of Canada FI owned approximately 0.09% of Prologis worth $92,023,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Destination Wealth Management increased its position in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust's stock worth $228,000 after acquiring an additional 92 shares during the period. CVA Family Office LLC grew its stake in Prologis by 21.4% in the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 94 shares in the last quarter. Tiemann Investment Advisors LLC increased its holdings in Prologis by 2.4% during the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust's stock worth $549,000 after purchasing an additional 100 shares during the period. M&G Plc increased its holdings in Prologis by 3.4% during the 2nd quarter. M&G Plc now owns 3,010 shares of the real estate investment trust's stock worth $337,000 after purchasing an additional 100 shares during the period. Finally, Conning Inc. raised its position in Prologis by 1.0% during the 2nd quarter. Conning Inc. now owns 10,525 shares of the real estate investment trust's stock valued at $1,182,000 after purchasing an additional 100 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis 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 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company's stock.

Prologis Stock Performance

Shares of Prologis stock traded down $0.86 during trading on Thursday, hitting $127.41. 2,402,688 shares of the company's stock were exchanged, compared to its average volume of 3,623,244. The stock has a market capitalization of $117.96 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 3.28 and a beta of 1.07. The business has a 50-day simple moving average of $122.05 and a 200-day simple moving average of $119.02. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business's quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 EPS. On average, research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Monday, September 16th. Prologis's payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of analyst reports. Truist Financial upped their target price on Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Royal Bank of Canada lowered shares of Prologis from an "outperform" rating to a "sector perform" rating and lifted their price target for the stock from $124.00 to $127.00 in a report on Monday, August 5th. BMO Capital Markets reiterated a "market perform" rating and set a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. Argus upped their target price on Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI increased their price target on Prologis from $122.00 to $124.00 and gave the company an "in-line" rating in a research note on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $133.12.

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.