57,823 Shares in Prologis, Inc. (NYSE:PLD) Purchased by Greystone Financial Group LLC

Greystone Financial Group LLC bought a new stake in Prologis, Inc. (NYSE:PLD) during the second quarter, HoldingsChannel reports. The institutional investor bought 57,823 shares of the real estate investment trust’s stock, valued at approximately $6,494,000.

A number of other hedge funds also recently modified their holdings of PLD. Cullen Frost Bankers Inc. increased its position in Prologis by 1.1% in the second quarter. Cullen Frost Bankers Inc. now owns 67,666 shares of the real estate investment trust’s stock worth $7,600,000 after buying an additional 718 shares during the last quarter. Seven Post Investment Office LP boosted its holdings in Prologis by 0.8% in the 2nd quarter. Seven Post Investment Office LP now owns 159,301 shares of the real estate investment trust’s stock worth $17,891,000 after buying an additional 1,208 shares during the period. Sustainable Insight Capital Management LLC grew its stake in Prologis by 16.9% in the 2nd quarter. Sustainable Insight Capital Management LLC now owns 2,400 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 347 shares in the last quarter. New York Life Investment Management LLC raised its holdings in Prologis by 4.9% during the 2nd quarter. New York Life Investment Management LLC now owns 204,343 shares of the real estate investment trust’s stock valued at $22,950,000 after acquiring an additional 9,547 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Prologis by 1.1% during the second quarter. Arizona State Retirement System now owns 268,177 shares of the real estate investment trust’s stock worth $30,119,000 after acquiring an additional 3,028 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of a number of analyst reports. Wells Fargo & Company boosted 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. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Evercore ISI increased their target price on shares of Prologis from $122.00 to $124.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, BMO Capital Markets restated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $133.12.

Prologis Trading Down 0.1 %

NYSE PLD traded down $0.18 on Friday, hitting $127.23. The company’s stock had a trading volume of 2,484,242 shares, compared to its average volume of 3,616,621. The firm has a market cap of $117.80 billion, a P/E ratio of 37.20, a PEG ratio of 3.28 and a beta of 1.07. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company’s 50-day simple moving average is $122.67 and its 200 day simple moving average is $119.03. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. Research analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, September 16th. Prologis’s payout ratio is 112.28%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

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.