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

Verdence Capital Advisors LLC boosted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 131.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,283 shares of the real estate investment trust's stock after acquiring an additional 5,833 shares during the quarter. Verdence Capital Advisors LLC's holdings in Prologis were worth $1,299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB bought a new stake in Prologis in the 1st quarter worth approximately $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis in the 2nd quarter worth approximately $203,223,000. Vanguard Group Inc. boosted its stake in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust's stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares in the last quarter. AMF Tjanstepension AB grew its holdings in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock worth $199,343,000 after purchasing an additional 1,358,542 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Buying and Selling

In related 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 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 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 is available through this link. 0.50% of the stock is owned by company insiders.

Prologis Stock Performance

PLD traded up $1.62 during trading on Friday, hitting $115.83. The company's stock had a trading volume of 3,250,928 shares, compared to its average volume of 3,856,753. The business's 50 day simple moving average is $122.69 and its 200-day simple moving average is $117.67. The firm has a market cap of $107.28 billion, a PE ratio of 34.99, a P/E/G ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a one year low of $101.11 and a one year 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 announced its 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). The company 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%. Prologis'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 business posted $1.30 earnings per share. As a group, sell-side analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. Prologis's dividend payout ratio (DPR) is 116.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley lifted their price target on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. Wells Fargo & Company lifted their price target on Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research report on Wednesday, August 28th. Argus increased their target price on Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Truist Financial raised their price target on shares of Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Finally, Scotiabank lowered their price objective on Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a research report on Friday, October 25th. Eight 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $131.12.

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.