Loomis Sayles & Co. L P Grows Holdings in Prologis, Inc. (NYSE:PLD)

Loomis Sayles & Co. L P raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 202.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,233 shares of the real estate investment trust’s stock after buying an additional 825 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Prologis were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PLD. LRI Investments LLC purchased a new stake in Prologis during the 1st quarter valued at approximately $153,000. Cetera Investment Advisers grew its holdings in shares of Prologis by 107.9% in the first quarter. Cetera Investment Advisers now owns 159,311 shares of the real estate investment trust’s stock valued at $20,745,000 after purchasing an additional 82,682 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Prologis by 118.7% in the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after purchasing an additional 20,623 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Prologis in the first quarter valued at $49,000. Finally, Bright Futures Wealth Management LLC. purchased a new position in shares of Prologis in the first quarter valued at $379,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of Prologis stock opened at $117.80 on Friday. The firm has a market cap of $109.10 billion, a P/E ratio of 35.59, a P/E/G ratio of 3.45 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The stock’s fifty day moving average price is $118.87 and its 200-day moving average price is $118.60.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 EPS. On average, equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.26%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays raised their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

About Prologis

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.