Prologis, Inc. (NYSE:PLD) Position Boosted by Verde Capital Management

Verde Capital Management raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 22,210 shares of the real estate investment trust’s stock after purchasing an additional 1,544 shares during the period. Prologis accounts for approximately 1.2% of Verde Capital Management’s portfolio, making the stock its 17th biggest holding. Verde Capital Management’s holdings in Prologis were worth $2,786,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bridgewater Associates LP purchased a new position in Prologis during the 2nd quarter valued at about $1,358,000. abrdn plc lifted its holdings in shares of Prologis by 20.0% during the 2nd quarter. abrdn plc now owns 1,713,019 shares of the real estate investment trust’s stock valued at $204,757,000 after buying an additional 285,900 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Prologis by 89.9% during the 2nd quarter. Bank of Montreal Can now owns 2,910,616 shares of the real estate investment trust’s stock valued at $354,018,000 after buying an additional 1,377,517 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Prologis by 37.7% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,970 shares of the real estate investment trust’s stock valued at $1,789,000 after buying an additional 4,100 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Prologis by 11.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,417,602 shares of the real estate investment trust’s stock valued at $287,894,000 after buying an additional 255,152 shares during the last quarter. 92.23% of the stock is currently owned by institutional investors.

PLD opened at $151.01 on Wednesday. The stock has a market cap of $111.65 billion, a PE ratio of 57.58, a P/E/G ratio of 4.58 and a beta of 0.78. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47. Prologis, Inc. has a 1 year low of $93.08 and a 1 year high of $153.24. The stock’s 50 day simple moving average is $138.94 and its 200-day simple moving average is $130.40.

Prologis (NYSE:PLD) last released its quarterly earnings data on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Prologis had a net margin of 42.95% and a return on equity of 5.42%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities analysts forecast that Prologis, Inc. will post 4.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Friday, September 17th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, September 16th. Prologis’s dividend payout ratio (DPR) is 95.09%.

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Prologis from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 19th. BTIG Research lifted their price target on Prologis from $146.00 to $161.00 and gave the company a “buy” rating in a report on Wednesday, October 20th. Truist boosted their target price on Prologis from $137.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, October 25th. They noted that the move was a valuation call. The Goldman Sachs Group upgraded Prologis from a “buy” rating to a “conviction-buy” rating and boosted their target price for the stock from $166.00 to $180.00 in a report on Thursday, October 21st. Finally, Morgan Stanley boosted their target price on Prologis from $138.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $149.73.

In other news, CEO Hamid R. Moghadam sold 305,645 shares of the company’s stock in a transaction on Friday, October 22nd. The stock was sold at an average price of $144.24, for a total transaction of $44,086,234.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Irving F. Lyons III sold 24,000 shares of the company’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $133.53, for a total value of $3,204,720.00. The disclosure for this sale can be found here. Insiders sold 345,380 shares of company stock worth $49,569,018 over the last quarter. Company insiders own 0.87% of the company’s stock.

Prologis Company Profile

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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