Stifel Financial Corp Has $241.56 Million Stake in Prologis, Inc. (NYSE:PLD)

Stifel Financial Corp boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,912,806 shares of the real estate investment trust's stock after purchasing an additional 36,596 shares during the period. Stifel Financial Corp owned approximately 0.21% of Prologis worth $241,558,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB boosted its stake in Prologis by 9.2% during 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 buying an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock valued at $18,305,000 after purchasing an additional 43,235 shares in the last quarter. Sunflower Bank N.A. acquired a new position in shares of Prologis in the 3rd quarter worth approximately $249,000. Abundance Wealth Counselors bought a new stake in shares of Prologis in the 2nd quarter worth approximately $973,000. Finally, Coronation Fund Managers Ltd. acquired a new stake in Prologis during the second quarter valued at approximately $878,000. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Prologis from $137.00 to $132.00 and set a "buy" rating on the stock in a research report on Thursday. Scotiabank cut their target price on Prologis from $136.00 to $134.00 and set a "sector outperform" rating on the stock in a research report on Wednesday. Evercore ISI upped their price objective 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. Morgan Stanley lifted their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average target price of $130.81.

Prologis Stock Down 1.1 %

Shares of PLD traded down $1.26 during midday trading on Thursday, reaching $113.79. 2,486,809 shares of the stock were exchanged, compared to its average volume of 3,650,509. The company has a market cap of $105.39 billion, a price-to-earnings ratio of 34.25, a P/E/G ratio of 3.40 and a beta of 1.07. The firm has a 50 day simple moving average of $118.07 and a 200-day simple moving average of $118.84. 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, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during 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%. The business's revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 earnings per share. Research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.96 per share. The ex-dividend date is Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.37%. Prologis's dividend payout ratio (DPR) is presently 116.01%.

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.