Geller Advisors LLC Increases Stake in Prologis, Inc. (NYSE:PLD)

Geller Advisors LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 14.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,497 shares of the real estate investment trust’s stock after buying an additional 448 shares during the quarter. Geller Advisors LLC’s holdings in Prologis were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC raised its position in shares of Prologis by 6.5% in the second quarter. Sequoia Financial Advisors LLC now owns 10,401 shares of the real estate investment trust’s stock worth $1,168,000 after acquiring an additional 638 shares during the period. M&G Plc raised its holdings in Prologis by 3.4% in the 2nd quarter. M&G Plc now owns 3,010 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 100 shares during the period. Dakota Community Bank & Trust NA boosted its position in Prologis by 11.9% during the second quarter. Dakota Community Bank & Trust NA now owns 2,007 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 214 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in Prologis by 1.0% in the second quarter. NorthCrest Asset Manangement LLC now owns 32,026 shares of the real estate investment trust’s stock valued at $3,597,000 after purchasing an additional 319 shares during the period. Finally, Great Valley Advisor Group Inc. increased its position in shares of Prologis by 13.9% in the second quarter. Great Valley Advisor Group Inc. now owns 17,272 shares of the real estate investment trust’s stock valued at $1,940,000 after buying an additional 2,105 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PLD shares. Wells Fargo & Company increased their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $120.00 to $104.00 in a report on Friday. Barclays boosted their target price 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. JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.13.

Prologis Stock Down 1.6 %

NYSE:PLD opened at $112.00 on Monday. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average is $117.57 and its two-hundred day moving average is $118.93. The stock has a market capitalization of $103.73 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 earnings per share. Research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.96 per share. The ex-dividend date is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.43%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.