Prologis, Inc. (NYSE:PLD) Shares Purchased by Swiss National Bank

Swiss National Bank boosted its holdings in Prologis, Inc. (NYSE:PLD) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,748,208 shares of the real estate investment trust’s stock after buying an additional 9,400 shares during the period. Swiss National Bank owned 0.30% of Prologis worth $347,044,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new stake in Prologis in the 2nd quarter worth about $26,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis in the 2nd quarter worth about $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. lifted its stake in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis in the 2nd quarter valued at about $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PLD shares. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Scotiabank reduced their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Truist Financial lifted their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Price Performance

PLD stock opened at $113.42 on Friday. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $105.05 billion, a PE ratio of 34.27, a P/E/G ratio of 2.98 and a beta of 1.08. The stock’s 50 day moving average is $121.34 and its two-hundred day moving average is $118.05.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm posted $1.30 earnings per share. Prologis’s revenue was up 6.9% compared to the same quarter last year. Analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. Prologis’s payout ratio is currently 116.01%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is owned by company insiders.

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.