Victory Capital Management Inc. Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Victory Capital Management Inc. boosted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 15.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907,563 shares of the real estate investment trust's stock after buying an additional 120,689 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of Prologis worth $114,607,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis in the second quarter valued at approximately $27,000. American Capital Advisory LLC purchased a new stake in shares of Prologis in the 2nd quarter worth $26,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the 2nd quarter worth $29,000. Sunbelt Securities Inc. increased its stake in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis in the second quarter valued at about $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company'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 sale, the executive now directly owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PLD shares. Barclays cut their target price on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. 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. Royal Bank of Canada lowered Prologis from an "outperform" rating to a "sector perform" rating and upped their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Evercore ISI lifted their price target on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Finally, StockNews.com upgraded Prologis from a "sell" rating to a "hold" rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.12.

Prologis Stock Performance

Shares of NYSE:PLD traded up $3.81 on Wednesday, hitting $116.56. 4,772,346 shares of the company were exchanged, compared to its average volume of 3,648,672. The firm has a market capitalization of $107.95 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The stock's 50 day moving average price is $122.11 and its 200 day moving average price is $117.91.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Monday, September 16th. Prologis's dividend payout ratio is presently 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.