Townsquare Capital LLC Buys 1,705 Shares of Prologis, Inc. (NYSE:PLD)

Townsquare Capital LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 12.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,307 shares of the real estate investment trust’s stock after acquiring an additional 1,705 shares during the quarter. Townsquare Capital LLC’s holdings in Prologis were worth $1,933,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PLD. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the 2nd quarter valued at $27,000. American Capital Advisory LLC bought a new stake in shares of Prologis in the second quarter worth about $26,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis during the second quarter worth about $29,000. Sunbelt Securities Inc. lifted its holdings in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLD shares. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Evercore ISI increased their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Morgan Stanley increased their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.25.

Prologis Stock Performance

Shares of PLD opened at $116.78 on Monday. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a market cap of $108.16 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. The firm has a 50-day moving average of $118.70 and a 200-day moving average of $118.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 earnings per share. As a group, equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is presently 116.01%.

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.