Janney Capital Management LLC Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Janney Capital Management LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 1.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,682 shares of the real estate investment trust’s stock after buying an additional 373 shares during the period. Janney Capital Management LLC’s holdings in Prologis were worth $2,738,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. Swedbank AB purchased a new stake in Prologis during the first quarter worth $596,614,000. Alphinity Investment Management Pty Ltd purchased a new position in Prologis during the first quarter valued at $465,659,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Prologis during the second quarter valued at $203,223,000. Vanguard Group Inc. lifted its holdings in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Prologis stock opened at $113.40 on Friday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The stock has a market cap of $105.03 billion, a P/E ratio of 34.26, a PEG ratio of 3.04 and a beta of 1.08. The company has a 50-day moving average price of $124.01 and a 200 day moving average price of $117.33. The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. Prologis’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PLD shares. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Evercore ISI increased their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Scotiabank reduced their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Finally, Argus increased their target price 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. Eight investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.12.

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.