BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,854 shares of the real estate investment trust’s stock after acquiring an additional 16,310 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Prologis were worth $24,985,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB boosted its holdings in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after acquiring an additional 43,235 shares in the last quarter. Sunflower Bank N.A. purchased a new stake in shares of Prologis during the third quarter valued at approximately $249,000. Cetera Advisors LLC lifted its holdings in Prologis by 118.7% during the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after acquiring an additional 20,623 shares during the period. Finally, Abundance Wealth Counselors purchased a new position in Prologis in the second quarter worth $973,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Scotiabank lowered their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $131.25.

Prologis Trading Up 1.6 %

Shares of PLD stock opened at $115.76 on Friday. The company has a market capitalization of $107.21 billion, a PE ratio of 34.97, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The business’s fifty day moving average is $119.75 and its 200 day moving average is $118.32. 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 (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 the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 EPS. On average, equities research analysts anticipate 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. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

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.