Catalyst Capital Advisors LLC Invests $255,000 in Prologis, Inc. (NYSE:PLD)

Catalyst Capital Advisors LLC purchased a new stake in Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,016 shares of the real estate investment trust’s stock, valued at approximately $255,000.

Several other institutional investors have also recently added to or reduced their stakes in PLD. Red Cedar Investment Management LLC acquired a new position in shares of Prologis in the third quarter valued at approximately $1,230,000. Quintet Private Bank Europe S.A. lifted its holdings in shares of Prologis by 28.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 7,496 shares of the real estate investment trust’s stock worth $947,000 after purchasing an additional 1,672 shares during the period. PDS Planning Inc grew its position in Prologis by 3.0% in the 3rd quarter. PDS Planning Inc now owns 4,739 shares of the real estate investment trust’s stock valued at $598,000 after buying an additional 139 shares during the last quarter. QRG Capital Management Inc. increased its stake in Prologis by 9.0% in the 3rd quarter. QRG Capital Management Inc. now owns 86,565 shares of the real estate investment trust’s stock valued at $10,931,000 after buying an additional 7,124 shares during the period. Finally, National Pension Service raised its position in Prologis by 13.8% during the 3rd quarter. National Pension Service now owns 2,022,234 shares of the real estate investment trust’s stock worth $255,368,000 after buying an additional 244,709 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 0.5 %

Shares of PLD opened at $114.38 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The stock has a market cap of $105.94 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.97 and a beta of 1.08. The firm has a 50 day simple moving average of $123.42 and a 200-day simple moving average of $117.55.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.30 earnings per share. Equities analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid 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 3.36%. Prologis’s dividend payout ratio is currently 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Evercore ISI upped their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, 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 report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Transactions 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 transaction, the executive now owns 13,187 shares of the company’s stock, 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 available at the SEC website. Insiders own 0.56% of the company’s stock.

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.