Prologis, Inc. (NYSE:PLD) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 16.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,371,225 shares of the real estate investment trust's stock after buying an additional 189,742 shares during the quarter. Natixis Advisors LLC owned about 0.15% of Prologis worth $173,159,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Swedbank AB grew its holdings in shares of Prologis by 9.2% in 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 purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Sunflower Bank N.A. acquired a new stake in shares of Prologis in the third quarter valued at $249,000. Cetera Advisors LLC boosted its holdings in Prologis by 118.7% in the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust's stock valued at $4,947,000 after purchasing an additional 20,623 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of Prologis by 143.1% during the first quarter. Intech Investment Management LLC now owns 26,843 shares of the real estate investment trust's stock worth $3,495,000 after buying an additional 15,802 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PLD shares. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a report on Wednesday, August 28th. The Goldman Sachs Group reissued a "neutral" rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Truist Financial increased 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. Barclays decreased their price target on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. Finally, Scotiabank reduced their target price on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $131.12.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

Prologis Trading Down 1.2 %

Shares of Prologis stock traded down $1.33 during mid-day trading on Friday, hitting $113.42. 3,889,491 shares of the stock were exchanged, compared to its average volume of 3,654,745. The company has a 50-day simple moving average of $121.34 and a 200 day simple moving average of $117.94. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $105.05 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

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

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.39%. The ex-dividend date was Monday, September 16th. Prologis's dividend payout ratio (DPR) is 116.01%.

Prologis Company 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.