Prologis, Inc. (NYSE:PLD) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. boosted its position in Prologis, Inc. (NYSE:PLD) by 38.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,952 shares of the real estate investment trust’s stock after purchasing an additional 16,512 shares during the period. AGF Management Ltd.’s holdings in Prologis were worth $6,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. acquired a new stake in Prologis in the second quarter valued at about $31,000. MGO One Seven LLC lifted its position in Prologis by 5.2% in the second quarter. MGO One Seven LLC now owns 10,510 shares of the real estate investment trust’s stock valued at $1,180,000 after purchasing an additional 521 shares during the period. Headlands Technologies LLC acquired a new stake in Prologis in the second quarter valued at about $53,000. Coldstream Capital Management Inc. lifted its position in Prologis by 9.4% in the second quarter. Coldstream Capital Management Inc. now owns 49,508 shares of the real estate investment trust’s stock valued at $5,560,000 after purchasing an additional 4,246 shares during the period. Finally, Gryphon Financial Partners LLC lifted its position in Prologis by 14.0% in the second quarter. Gryphon Financial Partners LLC now owns 6,248 shares of the real estate investment trust’s stock valued at $702,000 after purchasing an additional 767 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

Shares of NYSE PLD opened at $130.35 on Friday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a fifty day moving average of $124.11 and a 200-day moving average of $118.96. The stock has a market capitalization of $120.68 billion, a PE ratio of 38.11, a P/E/G ratio of 3.27 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. On average, analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 2.95%. Prologis’s dividend payout ratio is presently 112.28%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PLD shares. Truist Financial raised their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Evercore ISI lifted their price target on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Scotiabank lifted their price target on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Finally, Barclays raised their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $133.12.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,702,046.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis 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.