Cardano Risk Management B.V. Acquires New Shares in Prologis, Inc. (NYSE:PLD)

Cardano Risk Management B.V. bought a new position in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 867,743 shares of the real estate investment trust’s stock, valued at approximately $109,579,000. Prologis comprises about 1.9% of Cardano Risk Management B.V.’s portfolio, making the stock its 18th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB grew its stake in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after acquiring an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares during the period. Sunflower Bank N.A. purchased a new stake in Prologis during the 3rd quarter worth about $249,000. Cetera Advisors LLC raised its position in Prologis by 118.7% in the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after purchasing an additional 20,623 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in shares of Prologis by 143.1% during the first quarter. Intech Investment Management LLC now owns 26,843 shares of the real estate investment trust’s stock worth $3,495,000 after buying an additional 15,802 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Morgan Stanley upped their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Barclays cut their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Eight investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction 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 transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.50% of the company’s stock.

Prologis Stock Down 1.2 %

PLD opened at $113.42 on Friday. 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, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The stock has a market capitalization of $105.05 billion, a P/E ratio of 34.27, a P/E/G ratio of 2.98 and a beta of 1.08. The business has a 50 day simple moving average of $121.34 and a 200-day simple moving average of $118.05.

Prologis (NYSE:PLD) last released 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). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. On average, equities analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

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.