Rehmann Capital Advisory Group Acquires 209 Shares of Prologis, Inc. (NYSE:PLD)

Rehmann Capital Advisory Group increased its holdings in Prologis, Inc. (NYSE:PLD) by 9.3% during the third quarter, Holdings Channel reports. The firm owned 2,458 shares of the real estate investment trust’s stock after acquiring an additional 209 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Prologis were worth $311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ASB Consultores LLC lifted its holdings in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares in the last quarter. Arbor Capital Management Inc. ADV lifted its stake in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares in the last quarter. CX Institutional boosted its holdings in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its holdings in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 90 shares during the last quarter. Finally, Destination Wealth Management grew its position in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 0.3 %

PLD opened at $111.68 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50 day moving average price is $116.88 and its 200-day moving average price is $119.01. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The stock has a market cap of $103.44 billion, a price-to-earnings ratio of 33.74, a P/E/G ratio of 3.27 and a beta of 1.07.

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 the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $1.30 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLD. JPMorgan Chase & Co. decreased their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Raymond James reiterated an “outperform” rating and set a $125.00 target price (down from $130.00) on shares of Prologis in a research report on Wednesday. Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company upped their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, Truist Financial lowered their price objective on shares of Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Prologis has an average rating of “Hold” and a consensus target price of $128.88.

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.