Weaver Capital Management LLC Purchases 2,497 Shares of Prologis, Inc. (NYSE:PLD)

Weaver Capital Management LLC increased its position in Prologis, Inc. (NYSE:PLD) by 59.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,710 shares of the real estate investment trust’s stock after acquiring an additional 2,497 shares during the quarter. Weaver Capital Management LLC’s holdings in Prologis were worth $847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after buying an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after buying an additional 317,815 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after buying an additional 167,131 shares during the period. Finally, Centersquare Investment Management LLC lifted its stake in shares of Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after buying an additional 367,565 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on PLD shares. Argus raised their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $131.47.

Prologis Stock Up 1.0 %

Shares of NYSE:PLD opened at $118.94 on Wednesday. The company has a 50 day moving average of $125.31 and a 200-day moving average of $117.51. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a market cap of $110.12 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. On average, sell-side analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

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.