Commerce Bank lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 41.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 610,228 shares of the real estate investment trust's stock after buying an additional 178,498 shares during the period. Commerce Bank owned approximately 0.07% of Prologis worth $77,060,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter worth about $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis during the second quarter worth about $27,000. Central Valley Advisors LLC purchased a new stake in Prologis in the second quarter valued at approximately $29,000. Sunbelt Securities Inc. increased its holdings in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after buying an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis during the 2nd quarter valued at approximately $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.
PLD stock opened at $115.13 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average of $120.69 and a two-hundred day moving average of $118.30. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company has a market cap of $106.63 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.98 and a beta of 1.08.
Prologis (NYSE:PLD - Get Free Report) last issued its 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 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter in the previous year, the company earned $1.30 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.
The company also recently declared 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 3.34%. Prologis's dividend payout ratio (DPR) is 116.01%.
A number of analysts have recently weighed in on PLD shares. Morgan Stanley increased their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research note on Wednesday, August 28th. Bank of America reaffirmed a "neutral" rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. The Goldman Sachs Group reissued a "neutral" rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Argus raised their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Eight equities research 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $131.18.
Read Our Latest Stock Analysis on Prologis
In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Prologis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prologis wasn't on the list.
While Prologis currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.