Prologis, Inc. $PLD Shares Acquired by Ascent Group LLC

Ascent Group LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 153.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,607 shares of the real estate investment trust’s stock after buying an additional 9,440 shares during the quarter. Ascent Group LLC’s holdings in Prologis were worth $1,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLD. Clayton Financial Group LLC acquired a new position in Prologis in the 3rd quarter valued at about $26,000. Barrett & Company Inc. purchased a new position in shares of Prologis in the second quarter valued at approximately $44,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Prologis during the 2nd quarter worth approximately $44,000. Toth Financial Advisory Corp acquired a new stake in Prologis during the 3rd quarter worth approximately $52,000. Finally, Sound Income Strategies LLC lifted its holdings in Prologis by 32.1% during the 3rd quarter. Sound Income Strategies LLC now owns 482 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 117 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of the business’s 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 completion of the sale, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research note on Monday, October 20th. Truist Financial reiterated a “buy” rating and issued a $131.00 target price (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and upped their price target for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Mizuho lifted their price objective on Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Finally, Evercore ISI boosted their price objective on Prologis from $116.00 to $118.00 in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.24.

Prologis Stock Down 1.0%

Shares of NYSE PLD opened at $127.71 on Friday. The business has a 50-day moving average of $126.76 and a two-hundred day moving average of $116.57. The company has a market capitalization of $118.63 billion, a price-to-earnings ratio of 37.23, a price-to-earnings-growth ratio of 3.92 and a beta of 1.40. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $131.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64.

Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.21 billion for the quarter. On average, analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.