DT Investment Partners LLC Purchases 93 Shares of Prologis, Inc. (NYSE:PLD)

DT Investment Partners LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 9.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,043 shares of the real estate investment trust’s stock after buying an additional 93 shares during the period. DT Investment Partners LLC’s holdings in Prologis were worth $132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Arbor Capital Management Inc. ADV boosted its stake in Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 87 shares in the last quarter. CX Institutional boosted its position in shares of Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA grew its stake in shares of Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares during the last quarter. Destination Wealth Management increased its position in Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 92 shares in the last quarter. Finally, Yoder Wealth Management Inc. increased its position in Prologis by 4.0% during the 3rd quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 97 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PLD. Wells Fargo & Company increased their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. reduced their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Argus raised their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $120.39 on Friday. 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 stock has a market capitalization of $111.46 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The firm’s 50 day moving average price is $125.26 and its 200-day moving average price is $117.54. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Equities research analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.19%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

Prologis Company 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.