Family Legacy Inc. Purchases 659 Shares of Prologis, Inc. (NYSE:PLD)

Family Legacy Inc. grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,627 shares of the real estate investment trust’s stock after purchasing an additional 659 shares during the period. Family Legacy Inc.’s holdings in Prologis were worth $1,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CRA Financial Services LLC acquired a new position in shares of Prologis during the third quarter valued at about $213,000. Green Alpha Advisors LLC raised its holdings in shares of Prologis by 2.8% during the third quarter. Green Alpha Advisors LLC now owns 9,253 shares of the real estate investment trust’s stock valued at $1,161,000 after purchasing an additional 251 shares during the period. Hazelview Securities Inc. raised its holdings in shares of Prologis by 11.2% during the third quarter. Hazelview Securities Inc. now owns 649,205 shares of the real estate investment trust’s stock valued at $82,079,000 after purchasing an additional 65,310 shares during the period. Founders Capital Management raised its holdings in shares of Prologis by 98.5% during the third quarter. Founders Capital Management now owns 405 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 201 shares during the period. Finally, Pensionfund DSM Netherlands raised its holdings in shares of Prologis by 7.3% during the third quarter. Pensionfund DSM Netherlands now owns 160,904 shares of the real estate investment trust’s stock valued at $20,182,000 after purchasing an additional 11,000 shares during the period. Hedge funds and other institutional investors own 92.23% of the company’s stock.

In related news, Director William D. Zollars sold 1,380 shares of the firm’s stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $146.20, for a total value of $201,756.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hamid R. Moghadam sold 305,645 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 345,380 shares of company stock valued at $49,569,018 over the last three months. Insiders own 0.87% of the company’s stock.

Prologis stock opened at $150.22 on Monday. Prologis, Inc. has a twelve month low of $93.08 and a twelve month high of $151.72. The firm has a 50 day moving average price of $138.18 and a 200-day moving average price of $129.89. The company has a market capitalization of $111.06 billion, a P/E ratio of 56.69, a P/E/G ratio of 4.58 and a beta of 0.78. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.47.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Friday, September 17th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Thursday, September 16th. Prologis’s dividend payout ratio is currently 95.09%.

PLD has been the topic of a number of analyst reports. Truist upped their target price on shares of 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. Wells Fargo & Company upped their target price on shares of Prologis from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday. BMO Capital Markets upped their target price on shares of Prologis from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, July 26th. Truist Securities upped their target price on shares of Prologis from $123.00 to $137.00 and gave the stock a “buy” rating in a report on Saturday, July 31st. Finally, Royal Bank of Canada upped their target price on shares of Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, November 8th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Prologis currently has an average rating of “Buy” and a consensus price target of $147.47.

Prologis 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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