Mattern Capital Management LLC Purchases 355 Shares of Prologis, Inc. (NYSE:PLD)

Mattern Capital Management LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,291 shares of the real estate investment trust’s stock after acquiring an additional 355 shares during the quarter. Mattern Capital Management LLC’s holdings in Prologis were worth $9,003,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Arbor Capital Management Inc. ADV raised its holdings in shares of Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after purchasing an additional 87 shares during the period. CX Institutional raised its holdings in shares of Prologis by 2.7% during the third 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 period. Mitchell Sinkler & Starr PA raised its holdings in shares of Prologis by 5.1% during the second 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 period. Destination Wealth Management raised its holdings 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 during the period. Finally, DT Investment Partners LLC increased its position in shares of Prologis by 9.8% during the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 93 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Prologis Stock Down 2.4 %

Prologis stock opened at $117.54 on Friday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The firm has a 50 day moving average price of $125.06 and a 200-day moving average price of $117.44. The company has a market capitalization of $108.82 billion, a P/E ratio of 34.37, a P/E/G ratio of 3.05 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 36.37% and a return on equity of 4.88%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. As a group, equities analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 112.28%.

Analyst Ratings Changes

PLD has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. The Goldman Sachs Group reissued 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. BMO Capital Markets reissued a “market perform” rating and set a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Finally, Scotiabank decreased their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.12.

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.