Swiss National Bank Acquires 9,400 Shares of Prologis, Inc. (NYSE:PLD)

Swiss National Bank raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,748,208 shares of the real estate investment trust's stock after buying an additional 9,400 shares during the period. Swiss National Bank owned approximately 0.30% of Prologis worth $347,044,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of PLD. Semmax Financial Advisors Inc. purchased a new position in shares of Prologis in the second quarter worth approximately $27,000. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter valued at $26,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis in the second quarter valued at $29,000. Sunbelt Securities Inc. boosted its position in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after buying an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis in the second quarter worth $31,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

Prologis stock traded down $1.33 during trading hours on Friday, reaching $113.42. 3,889,491 shares of the company were exchanged, compared to its average volume of 3,764,149. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. 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 50-day moving average of $121.34 and a 200 day moving average of $118.16. The firm has a market cap of $105.05 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis's dividend payout ratio is presently 116.01%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLD. Scotiabank reduced their price objective on Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a research note on Friday, October 25th. Bank of America reaffirmed a "neutral" rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Barclays cut their target price on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating for the company in a research report on Thursday, October 10th. Argus boosted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company upped their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $131.12.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company's stock in a transaction dated 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. This represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is 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.