Callahan Advisors LLC Purchases 2,210 Shares of Prologis, Inc. (NYSE:PLD)

Callahan Advisors LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 50,781 shares of the real estate investment trust’s stock after buying an additional 2,210 shares during the quarter. Callahan Advisors LLC’s holdings in Prologis were worth $6,070,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLD. Eagle Bay Advisors LLC acquired a new stake in shares of Prologis during the 2nd quarter worth about $26,000. Logan Capital Management Inc. acquired a new stake in shares of Prologis during the 1st quarter worth about $29,000. Meridian Wealth Partners LLC raised its stake in Prologis by 70.3% in the 1st quarter. Meridian Wealth Partners LLC now owns 441 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 182 shares in the last quarter. Tompkins Financial Corp raised its stake in Prologis by 1,592.9% in the 1st quarter. Tompkins Financial Corp now owns 474 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 446 shares in the last quarter. Finally, Summit Wealth Group LLC acquired a new stake in Prologis in the 1st quarter worth about $56,000. Institutional investors own 93.04% of the company’s stock.

PLD traded up $1.43 during trading on Wednesday, reaching $130.28. 29,203 shares of the company’s stock were exchanged, compared to its average volume of 2,573,768. Prologis, Inc. has a one year low of $93.08 and a one year high of $139.60. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $96.31 billion, a PE ratio of 62.31, a price-to-earnings-growth ratio of 4.47 and a beta of 0.72. The firm has a fifty day moving average price of $131.32 and a two-hundred day moving average price of $120.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Sunday, July 18th. The real estate investment trust reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.37. Prologis had a net margin of 34.54% and a return on equity of 4.27%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm posted $1.11 EPS. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 4.07 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Friday, September 17th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, September 16th. Prologis’s dividend payout ratio is currently 66.32%.

Several brokerages have weighed in on PLD. Barclays began coverage on shares of Prologis in a research note on Wednesday, September 1st. They issued an “overweight” rating and a $159.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Prologis from $108.00 to $124.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 20th. BMO Capital Markets lifted their price objective on shares of Prologis from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, July 26th. The Goldman Sachs Group lifted their price objective on shares of Prologis from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, September 16th. Finally, Truist Securities boosted their target price on shares of Prologis from $123.00 to $137.00 and gave the company a “buy” rating in a research report on Saturday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $137.13.

About Prologis

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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