Prologis, Inc. (NYSE:PLD) Stock Position Boosted by Financial Counselors Inc.

Financial Counselors Inc. grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,404 shares of the real estate investment trust’s stock after buying an additional 2,260 shares during the quarter. Financial Counselors Inc.’s holdings in Prologis were worth $16,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. ASB Consultores LLC increased its stake in shares of Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares during the period. Arbor Capital Management Inc. ADV increased its position in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after purchasing an additional 87 shares during the period. CX Institutional raised its stake in shares of Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA lifted its holdings in Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 90 shares during the last quarter. Finally, Destination Wealth Management boosted its position in shares of Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Up 1.4 %

Shares of NYSE:PLD opened at $117.81 on Thursday. 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 market capitalization of $109.11 billion, a PE ratio of 35.59, a P/E/G ratio of 3.45 and a beta of 1.08. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52. The firm has a fifty day moving average price of $119.09 and a 200 day moving average price of $118.61.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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 net margin of 39.08% and a return on equity of 5.34%. The company 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 company posted $1.30 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PLD. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Scotiabank cut their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Wells Fargo & Company boosted their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Finally, Evercore ISI upped their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.25.

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.