Bank of Nova Scotia Raises Holdings in Prologis, Inc. $PLD

Bank of Nova Scotia increased its holdings in Prologis, Inc. (NYSE:PLD) by 11.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,620 shares of the real estate investment trust’s stock after buying an additional 12,000 shares during the period. Bank of Nova Scotia’s holdings in Prologis were worth $12,470,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after buying an additional 15,078 shares in the last quarter. Townsquare Capital LLC lifted its position in Prologis by 14.8% during the first quarter. Townsquare Capital LLC now owns 14,899 shares of the real estate investment trust’s stock valued at $1,666,000 after acquiring an additional 1,926 shares during the last quarter. SouthState Corp boosted its stake in Prologis by 444.1% in the first quarter. SouthState Corp now owns 740 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 604 shares in the last quarter. Independent Advisor Alliance grew its holdings in Prologis by 1.3% in the first quarter. Independent Advisor Alliance now owns 16,517 shares of the real estate investment trust’s stock worth $1,846,000 after purchasing an additional 218 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in Prologis by 17.6% during the 1st quarter. HighTower Advisors LLC now owns 211,218 shares of the real estate investment trust’s stock valued at $23,612,000 after buying an additional 31,684 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PLD shares. Barclays dropped their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Evercore ISI increased their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. UBS Group set a $138.00 price target on shares of Prologis in a report on Thursday, December 4th. Wells Fargo & Company increased their target price on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.88.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the sale, the director owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 1,621 shares of company stock worth $198,655. 0.57% of the stock is owned by company insiders.

Prologis Price Performance

PLD stock opened at $129.86 on Thursday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $130.56. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $120.62 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 3.91 and a beta of 1.40. The business has a 50 day simple moving average of $123.82 and a 200-day simple moving average of $114.34.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.1%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Prologis 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.