Jackson Square Capital LLC Purchases New Shares in Prologis, Inc. (NYSE:PLD)

Jackson Square Capital LLC purchased a new stake in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,777 shares of the real estate investment trust’s stock, valued at approximately $477,000.

Several other institutional investors have also added to or reduced their stakes in the company. Graypoint LLC boosted its stake in Prologis by 31.9% in the 3rd quarter. Graypoint LLC now owns 4,714 shares of the real estate investment trust’s stock valued at $595,000 after purchasing an additional 1,141 shares during the period. Umpqua Bank lifted its position in shares of Prologis by 3.7% during the 3rd quarter. Umpqua Bank now owns 5,015 shares of the real estate investment trust’s stock valued at $633,000 after acquiring an additional 180 shares during the period. Harvest Portfolios Group Inc. lifted its position in shares of Prologis by 94.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 8,345 shares of the real estate investment trust’s stock valued at $1,054,000 after acquiring an additional 4,054 shares during the period. Avidian Wealth Enterprises LLC bought a new stake in shares of Prologis during the 3rd quarter valued at $240,000. Finally, Beacon Financial Advisory LLC lifted its position in shares of Prologis by 21.0% during the 3rd quarter. Beacon Financial Advisory LLC now owns 3,133 shares of the real estate investment trust’s stock valued at $396,000 after acquiring an additional 544 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLD has been the subject of a number of recent analyst reports. Barclays cut their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Scotiabank lowered their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Argus upped their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $131.12.

Prologis Stock Down 0.6 %

Shares of Prologis stock opened at $113.74 on Thursday. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50-day moving average is $123.15 and its 200 day moving average is $117.52. The firm has a market cap of $105.34 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.97 and a beta of 1.08.

Prologis (NYSE:PLD) last announced its 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors 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 dividend yield of 3.38%. Prologis’s payout ratio is 116.01%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by corporate insiders.

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.