Bleakley Financial Group LLC Acquires 2,301 Shares of Prologis, Inc. (NYSE:PLD)

Bleakley Financial Group LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 18.1% during the third quarter, HoldingsChannel.com reports. The fund owned 14,990 shares of the real estate investment trust’s stock after purchasing an additional 2,301 shares during the period. Bleakley Financial Group LLC’s holdings in Prologis were worth $1,893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Valeo Financial Advisors LLC grew its position in Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after acquiring an additional 48,850,448 shares during the last quarter. Swedbank AB acquired a new stake in shares of Prologis during the first quarter valued at about $596,614,000. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Prologis during the first quarter valued at about $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Prologis during the second quarter valued at about $203,223,000. Finally, Vanguard Group Inc. boosted its stake in shares of 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. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Argus lifted their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Truist Financial lifted their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Scotiabank lifted their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Finally, Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.71.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of PLD opened at $122.50 on Friday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The business’s 50 day moving average price is $125.43 and its two-hundred day moving average price is $117.66. The firm has a market cap of $113.42 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm posted $1.30 earnings per share. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.