Duff & Phelps Investment Management Co. Buys 33,960 Shares of Prologis, Inc. (NYSE:PLD)

Duff & Phelps Investment Management Co. increased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,864,258 shares of the real estate investment trust's stock after purchasing an additional 33,960 shares during the quarter. Prologis accounts for 4.1% of Duff & Phelps Investment Management Co.'s holdings, making the stock its largest holding. Duff & Phelps Investment Management Co. owned about 0.31% of Prologis worth $321,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Optimum Investment Advisors purchased a new stake in shares of Prologis during the 1st quarter worth $26,000. American Capital Advisory LLC purchased a new stake in Prologis during the 2nd quarter worth about $26,000. True Wealth Design LLC acquired a new position in shares of Prologis during the 4th quarter worth about $27,000. Semmax Financial Advisors Inc. purchased a new position in shares of Prologis in the 2nd quarter valued at about $27,000. Finally, Central Valley Advisors LLC acquired a new stake in shares of Prologis during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLD. Barclays upped their price target on Prologis from $123.00 to $142.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. 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 research note on Monday, August 5th. The Goldman Sachs Group upped their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. BMO Capital Markets reiterated a "market perform" rating and set a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Finally, Scotiabank boosted their target price on Prologis from $135.00 to $142.00 and gave the company a "sector outperform" rating in a report on Monday, August 26th. Seven equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $133.35.

Prologis Stock Performance

PLD traded up $0.36 during trading on Friday, hitting $125.59. The stock had a trading volume of 3,775,172 shares, compared to its average volume of 3,643,547. The firm has a market capitalization of $116.28 billion, a P/E ratio of 36.72, a PEG ratio of 3.25 and a beta of 1.07. 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, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company's 50-day moving average price is $125.83 and its 200 day moving average price is $118.26.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.96 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.06%. Prologis's dividend payout ratio (DPR) is presently 112.28%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was 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 of the company's stock, valued at $1,702,046.09. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.