Janney Capital Management LLC Purchases 1,352 Shares of Prologis, Inc. (NYSE:PLD)

Janney Capital Management LLC grew its stake in Prologis, Inc. (NYSE:PLDFree Report) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,099 shares of the real estate investment trust’s stock after buying an additional 1,352 shares during the period. Janney Capital Management LLC’s holdings in Prologis were worth $2,255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Archer Investment Corp lifted its holdings in shares of Prologis by 48.6% in the 3rd quarter. Archer Investment Corp now owns 49,983 shares of the real estate investment trust’s stock worth $5,609,000 after acquiring an additional 16,342 shares during the last quarter. Argent Trust Co raised its holdings in Prologis by 5.4% during the 3rd quarter. Argent Trust Co now owns 6,299 shares of the real estate investment trust’s stock valued at $707,000 after buying an additional 324 shares during the last quarter. Landscape Capital Management L.L.C. raised its holdings in Prologis by 175.2% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 6,332 shares of the real estate investment trust’s stock valued at $711,000 after buying an additional 4,031 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after buying an additional 1,034,211 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in Prologis by 6.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 27,535 shares of the real estate investment trust’s stock valued at $3,090,000 after buying an additional 1,786 shares during the last quarter. Hedge funds and other institutional investors own 90.90% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of a number of recent analyst reports. Mizuho upped their price target on shares of Prologis from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Morgan Stanley upped their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Evercore ISI lowered their price target on shares of Prologis from $132.00 to $125.00 in a report on Monday, October 9th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Truist Financial restated a “buy” rating and issued a $120.00 price objective on shares of Prologis in a report on Monday, November 27th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $141.50.

Check Out Our Latest Research Report on Prologis

Prologis Price Performance

Shares of NYSE:PLD opened at $126.93 on Monday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company’s 50 day moving average is $127.63 and its 200 day moving average is $119.55. The company has a current ratio of 0.09, a quick ratio of 0.43 and a debt-to-equity ratio of 0.50. The company has a market cap of $117.28 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.00.

Prologis (NYSE:PLDGet Free Report) last released its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the company posted $1.24 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Prologis, Inc. will post 5.51 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were issued a $0.87 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.74%. Prologis’s payout ratio is currently 105.78%.

Insider Buying and Selling at Prologis

In other Prologis news, Director James B. Connor sold 103,331 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $133.20, for a total value of $13,763,689.20. Following the completion of the sale, the director now directly owns 21,419 shares of the company’s stock, valued at approximately $2,853,010.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.

About Prologis

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 2023, 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 (114 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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