Rockefeller Capital Management L.P. Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Rockefeller Capital Management L.P. boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 518,965 shares of the real estate investment trust’s stock after buying an additional 1,441 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Prologis were worth $65,538,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PLD. Swedbank AB lifted its holdings in shares of Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after acquiring an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after purchasing an additional 43,235 shares during the period. Sunflower Bank N.A. acquired a new position in Prologis during the third quarter worth $249,000. Cetera Advisors LLC boosted its position in shares of Prologis by 118.7% during the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after buying an additional 20,623 shares during the period. Finally, Abundance Wealth Counselors acquired a new stake in shares of Prologis in the second quarter valued at $973,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.9 %

Shares of PLD stock opened at $116.75 on Friday. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $118.70 and its two-hundred day moving average is $118.66. The company has a market capitalization of $108.13 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 3.44 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during 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 firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. Equities analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PLD. Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Barclays increased their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. dropped their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Company Profile

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.