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

Savvy Advisors Inc. lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 42.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,404 shares of the real estate investment trust's stock after purchasing an additional 5,472 shares during the quarter. Savvy Advisors Inc.'s holdings in Prologis were worth $2,324,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC increased its stake in shares of Prologis by 0.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 22,390 shares of the real estate investment trust's stock worth $2,827,000 after acquiring an additional 157 shares during the last quarter. First National Trust Co boosted its holdings in Prologis by 1.5% in the third quarter. First National Trust Co now owns 41,728 shares of the real estate investment trust's stock worth $5,269,000 after purchasing an additional 629 shares in the last quarter. Waverton Investment Management Ltd raised its position in shares of Prologis by 9.5% during the third quarter. Waverton Investment Management Ltd now owns 315,976 shares of the real estate investment trust's stock valued at $39,903,000 after buying an additional 27,545 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Prologis by 13.2% during the third quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust's stock valued at $393,000 after buying an additional 364 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its position in Prologis by 0.9% in the third quarter. Apollon Wealth Management LLC now owns 17,772 shares of the real estate investment trust's stock worth $2,244,000 after purchasing an additional 157 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company's stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America reaffirmed a "neutral" rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Royal Bank of Canada downgraded shares of Prologis from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. The Goldman Sachs Group reiterated a "neutral" rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research note on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.12.

Prologis Stock Down 1.2 %

NYSE:PLD traded down $1.35 during trading hours on Tuesday, reaching $112.75. The company had a trading volume of 2,674,733 shares, compared to its average volume of 3,643,530. The firm has a market cap of $104.43 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 3.04 and a beta of 1.08. The business's 50-day simple moving average is $122.42 and its two-hundred day simple moving average is $117.85. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm earned $1.30 EPS. The business's revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, September 16th. Prologis's 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.