Bank of Montreal Can Sells 80,566 Shares of Prologis, Inc. (NYSE:PLD)

Bank of Montreal Can lowered its holdings in Prologis, Inc. (NYSE:PLD) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,678,251 shares of the real estate investment trust’s stock after selling 80,566 shares during the period. Bank of Montreal Can owned approximately 0.29% of Prologis worth $336,362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swedbank AB acquired a new stake in shares of Prologis during the 1st quarter worth approximately $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Prologis in the 2nd quarter valued at $203,223,000. AMF Tjanstepension AB raised its holdings in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after buying an additional 1,358,542 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Prologis by 137.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock worth $208,518,000 after buying an additional 1,075,614 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 2.6 %

Shares of Prologis stock traded up $3.04 on Monday, reaching $118.84. 811,355 shares of the company’s stock were exchanged, compared to its average volume of 3,618,907. The firm’s 50-day moving average is $119.75 and its two-hundred day moving average is $118.48. The company has a market capitalization of $110.07 billion, a P/E ratio of 34.98, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings data 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 firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PLD shares. Bank of America reissued a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. JPMorgan Chase & Co. dropped their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $131.25.

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.