Sanctuary Advisors LLC Purchases 16,831 Shares of Prologis, Inc. (NYSE:PLD)

Sanctuary Advisors LLC grew its position in shares of Prologis, Inc. (NYSE:PLD) by 10.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,692 shares of the real estate investment trust’s stock after buying an additional 16,831 shares during the quarter. Sanctuary Advisors LLC’s holdings in Prologis were worth $21,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in Prologis in the second quarter worth $54,000. Miracle Mile Advisors LLC raised its holdings in shares of Prologis by 6.3% in the second quarter. Miracle Mile Advisors LLC now owns 15,129 shares of the real estate investment trust’s stock valued at $1,699,000 after buying an additional 893 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new position in Prologis during the 2nd quarter worth about $878,000. Blue Trust Inc. grew its holdings in Prologis by 28.7% during the 2nd quarter. Blue Trust Inc. now owns 16,610 shares of the real estate investment trust’s stock worth $1,865,000 after acquiring an additional 3,706 shares during the last quarter. Finally, Stanley Laman Group Ltd. increased its position in Prologis by 4.0% in the 2nd quarter. Stanley Laman Group Ltd. now owns 28,994 shares of the real estate investment trust’s stock valued at $3,256,000 after acquiring an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

Shares of NYSE:PLD opened at $111.68 on Friday. The company has a 50 day moving average price of $116.67 and a two-hundred day moving average price of $118.96. The company has a market capitalization of $103.44 billion, a PE ratio of 33.74, a PEG ratio of 3.27 and a beta of 1.07. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last issued 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 return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PLD shares. 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 research report on Monday, October 21st. Truist Financial decreased their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Raymond James restated an “outperform” rating and set a $125.00 target price (down previously from $130.00) on shares of Prologis in a research report on Wednesday. Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Hold” and an average price target of $128.88.

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.