Waverton Investment Management Ltd Has $32.40 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Waverton Investment Management Ltd lifted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 18.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 288,431 shares of the real estate investment trust's stock after buying an additional 45,774 shares during the period. Waverton Investment Management Ltd's holdings in Prologis were worth $32,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Crumly & Associates Inc. lifted its stake in Prologis by 5.8% in the second quarter. Crumly & Associates Inc. now owns 9,131 shares of the real estate investment trust's stock valued at $1,025,000 after buying an additional 504 shares during the last quarter. National Bank of Canada FI lifted its position in Prologis by 30.8% in the 2nd quarter. National Bank of Canada FI now owns 822,010 shares of the real estate investment trust's stock valued at $92,023,000 after purchasing an additional 193,369 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in Prologis by 22.0% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 622 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 112 shares during the period. TD Asset Management Inc grew its position in Prologis by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 327,603 shares of the real estate investment trust's stock worth $36,793,000 after purchasing an additional 11,880 shares during the last quarter. Finally, Mattern Capital Management LLC grew its position in Prologis by 7.0% in the 2nd quarter. Mattern Capital Management LLC now owns 70,936 shares of the real estate investment trust's stock worth $7,967,000 after purchasing an additional 4,652 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity 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 completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company's stock.

Prologis Stock Down 0.2 %

NYSE:PLD traded down $0.20 during trading hours on Friday, reaching $127.21. The company's stock had a trading volume of 2,484,126 shares, compared to its average volume of 3,616,621. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The business's 50-day moving average is $122.67 and its 200-day moving average is $119.03. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $117.78 billion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 3.28 and a beta of 1.07.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company's revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.83 EPS. Equities research analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Monday, September 16th. Prologis's dividend payout ratio (DPR) is currently 112.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLD. BMO Capital Markets reissued a "market perform" rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. The Goldman Sachs Group boosted their price target on shares of Prologis from $140.00 to $156.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Evercore ISI increased their price objective on shares of Prologis from $122.00 to $124.00 and gave the company an "in-line" rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Prologis from a "sell" rating to a "hold" rating in a research note on Thursday, July 18th. Finally, Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and a consensus 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.