Claro Advisors LLC Purchases Shares of 37,516 Prologis, Inc. (NYSE:PLD)

Claro Advisors LLC purchased a new stake in Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 37,516 shares of the real estate investment trust’s stock, valued at approximately $4,738,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. Valeo Financial Advisors LLC raised its stake in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Swedbank AB bought a new position in shares of Prologis in the 1st quarter valued at about $596,614,000. Alphinity Investment Management Pty Ltd bought a new position in shares of Prologis in the 1st quarter valued at about $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Prologis in the 2nd quarter valued at about $203,223,000. Finally, Vanguard Group Inc. grew its holdings in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 0.4 %

Shares of NYSE:PLD traded down $0.45 during midday trading on Friday, hitting $122.25. 396,408 shares of the stock traded hands, compared to its average volume of 3,626,632. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $125.42 and its two-hundred day moving average is $117.76. The stock has a market capitalization of $113.18 billion, a PE ratio of 35.89, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.14%. Prologis’s dividend payout ratio is presently 112.28%.

Insider Transactions at Prologis

In other 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 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 filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PLD shares. Barclays decreased their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. The Goldman Sachs Group lifted their price target on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Argus lifted their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.71.

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.