Atria Investments Inc Grows Holdings in Prologis, Inc. (NYSE:PLD)

Atria Investments Inc boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 16.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,702 shares of the real estate investment trust's stock after acquiring an additional 14,558 shares during the quarter. Atria Investments Inc's holdings in Prologis were worth $13,222,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ASB Consultores LLC raised its holdings in shares of Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust's stock valued at $306,000 after purchasing an additional 86 shares during the period. Arbor Capital Management Inc. ADV grew its position in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust's stock worth $1,299,000 after purchasing an additional 87 shares in the last quarter. CX Institutional grew its position in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust's stock worth $423,000 after purchasing an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA grew its position in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust's stock worth $228,000 after purchasing an additional 90 shares in the last quarter. Finally, Destination Wealth Management grew its position in shares of Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust's stock worth $228,000 after purchasing an additional 92 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLD. Truist Financial increased their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Scotiabank dropped their price objective on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a research note on Friday, October 25th. BMO Capital Markets reissued a "market perform" rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. The Goldman Sachs Group reissued a "neutral" rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Argus increased their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.12.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the business's 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 owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

Prologis Stock Down 1.5 %

Shares of NYSE PLD traded down $1.73 during mid-day trading on Monday, reaching $114.10. 3,201,675 shares of the company's stock traded hands, compared to its average volume of 3,646,248. The stock has a market cap of $105.68 billion, a P/E ratio of 34.99, a PEG ratio of 2.98 and a beta of 1.08. The business has a 50-day simple moving average of $122.69 and a 200 day simple moving average of $117.77. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, September 16th. Prologis's dividend payout ratio is 116.01%.

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.