Hilton Capital Management LLC Buys 26,459 Shares of Prologis, Inc. (NYSE:PLD)

Hilton Capital Management LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 56.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,159 shares of the real estate investment trust’s stock after purchasing an additional 26,459 shares during the quarter. Hilton Capital Management LLC’s holdings in Prologis were worth $9,239,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Commerce Bank grew its position in Prologis by 41.3% during the third quarter. Commerce Bank now owns 610,228 shares of the real estate investment trust’s stock valued at $77,060,000 after acquiring an additional 178,498 shares during the last quarter. Strategy Asset Managers LLC raised its holdings in Prologis by 27.7% during the 3rd quarter. Strategy Asset Managers LLC now owns 3,122 shares of the real estate investment trust’s stock valued at $394,000 after buying an additional 677 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Prologis during the 3rd quarter valued at $21,512,000. Prospera Private Wealth LLC bought a new stake in Prologis in the 3rd quarter worth $700,000. Finally, West Family Investments Inc. bought a new position in shares of Prologis during the third quarter valued at about $324,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

NYSE:PLD opened at $115.13 on Wednesday. The firm has a market capitalization of $106.63 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $120.69 and a 200-day simple moving average of $118.30. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. Equities analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.34%. Prologis’s dividend payout ratio is 116.01%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PLD shares. JPMorgan Chase & Co. decreased their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Truist Financial upped their target price 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. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $131.18.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value 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 trade represents a 28.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.56% 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.