Veracity Capital LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,073 shares of the real estate investment trust’s stock after purchasing an additional 75 shares during the period. Veracity Capital LLC’s holdings in Prologis were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of PLD. Amundi acquired a new stake in Prologis in the 2nd quarter valued at about $398,345,000. Prospera Financial Services Inc raised its position in Prologis by 7,381.1% in the 2nd quarter. Prospera Financial Services Inc now owns 2,186,739 shares of the real estate investment trust’s stock valued at $1,368,000 after purchasing an additional 2,157,509 shares in the last quarter. FMR LLC raised its position in Prologis by 7.9% in the 2nd quarter. FMR LLC now owns 22,666,349 shares of the real estate investment trust’s stock valued at $2,709,309,000 after purchasing an additional 1,655,815 shares in the last quarter. Morgan Stanley raised its position in Prologis by 30.6% in the 2nd quarter. Morgan Stanley now owns 6,634,236 shares of the real estate investment trust’s stock valued at $792,990,000 after purchasing an additional 1,552,532 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Prologis by 89.9% in 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 purchasing an additional 1,377,517 shares in the last quarter. 92.23% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on PLD shares. Truist increased their price target on Prologis from $137.00 to $158.00 and gave the company a “buy” rating in a research 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 increased their price objective for the company from $166.00 to $180.00 in a report on Thursday, October 21st. Royal Bank of Canada increased their price objective on Prologis from $144.00 to $164.00 and gave the company an “outperform” rating in a report on Monday, November 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Prologis from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, August 18th. Finally, Morgan Stanley increased their price objective on Prologis from $138.00 to $165.00 and gave the company an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $149.73.
NYSE:PLD opened at $154.51 on Thursday. The stock’s 50 day moving average price is $139.36 and its 200 day moving average price is $130.57. The company has a market capitalization of $114.23 billion, a PE ratio of 58.31, 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, Inc. has a 52-week low of $93.08 and a 52-week high of $154.87.
Prologis (NYSE:PLD) last announced its earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing the 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Shareholders of record on Friday, September 17th were paid a $0.63 dividend. The ex-dividend date was Thursday, September 16th. This represents a $2.52 annualized dividend and a dividend yield of 1.63%. Prologis’s dividend payout ratio (DPR) is currently 95.09%.
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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