Stratos Investment Management LLC Invests $221,000 in Prologis, Inc. (NYSE:PLD)

Stratos Investment Management LLC acquired a new position in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,746 shares of the real estate investment trust’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. NBC Securities Inc. lifted its stake in shares of Prologis by 20.4% during the 1st quarter. NBC Securities Inc. now owns 1,567 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 265 shares in the last quarter. &PARTNERS purchased a new stake in shares of Prologis during the first quarter worth $311,000. International Assets Investment Management LLC boosted its holdings in shares of Prologis by 8.8% in the first quarter. International Assets Investment Management LLC now owns 1,846 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 149 shares during the period. Ballentine Partners LLC grew its position in shares of Prologis by 18.1% in the first quarter. Ballentine Partners LLC now owns 14,069 shares of the real estate investment trust’s stock valued at $1,832,000 after purchasing an additional 2,154 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in shares of Prologis by 24.4% during the 1st quarter. CHICAGO TRUST Co NA now owns 4,648 shares of the real estate investment trust’s stock valued at $605,000 after purchasing an additional 912 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

Shares of NYSE PLD opened at $122.50 on Friday. The stock’s 50-day moving average is $125.43 and its 200 day moving average is $117.66. The stock has a market cap of $113.42 billion, a price-to-earnings ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last posted its quarterly earnings results 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). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.30 earnings per share. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.13%. Prologis’s payout ratio is 112.28%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Argus increased their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. BMO Capital Markets restated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Finally, Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.71.

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.