Cannell & Spears LLC Acquires 21,837 Shares of Prologis, Inc. $PLD

Cannell & Spears LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 318,284 shares of the real estate investment trust’s stock after purchasing an additional 21,837 shares during the quarter. Cannell & Spears LLC’s holdings in Prologis were worth $36,450,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Clark Capital Management Group Inc. lifted its stake in Prologis by 1.4% in the third quarter. Clark Capital Management Group Inc. now owns 764,193 shares of the real estate investment trust’s stock valued at $87,515,000 after buying an additional 10,396 shares during the period. Ausdal Financial Partners Inc. acquired a new stake in shares of Prologis during the 3rd quarter worth approximately $278,000. Bamco Inc. NY increased its stake in shares of Prologis by 12.5% in the 3rd quarter. Bamco Inc. NY now owns 891,522 shares of the real estate investment trust’s stock valued at $102,097,000 after acquiring an additional 98,888 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Prologis by 10.3% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 68,724 shares of the real estate investment trust’s stock valued at $7,855,000 after acquiring an additional 6,429 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Prologis by 2.6% during the 3rd quarter. California Public Employees Retirement System now owns 1,764,139 shares of the real estate investment trust’s stock valued at $202,029,000 after acquiring an additional 45,232 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the topic of several research analyst reports. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Morgan Stanley set a $135.00 price target on shares of Prologis in a research note on Friday, January 16th. Robert W. Baird reiterated a “neutral” rating and set a $130.00 price objective (up from $128.00) on shares of Prologis in a report on Thursday, January 8th. Royal Bank Of Canada increased their price objective on shares of Prologis from $132.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Prologis in a research note on Monday, December 29th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $137.20.

Prologis Stock Performance

NYSE PLD opened at $131.73 on Friday. The company has a market cap of $122.45 billion, a P/E ratio of 37.11, a PEG ratio of 3.12 and a beta of 1.41. The company has a fifty day simple moving average of $134.50 and a 200 day simple moving average of $126.26. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $143.95.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, January 21st. The real estate investment trust reported $1.44 earnings per share for the quarter, hitting the consensus estimate of $1.44. Prologis had a net margin of 37.86% and a return on equity of 5.79%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the company posted $1.42 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $1.07 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Prologis’s previous quarterly dividend of $1.01. Prologis’s dividend payout ratio (DPR) is currently 120.56%.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.