Voya Financial Advisors Inc. Purchases 852 Shares of Prologis, Inc. (NYSE:PLD)

Voya Financial Advisors Inc. grew its holdings in Prologis, Inc. (NYSE:PLD) by 22.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,709 shares of the real estate investment trust’s stock after purchasing an additional 852 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Prologis were worth $591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ASB Consultores LLC raised its holdings in Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV lifted its holdings in shares of Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 87 shares during the last quarter. CX Institutional raised its holdings in shares of Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the period. Mitchell Sinkler & Starr PA lifted its position in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares in the last quarter. Finally, Destination Wealth Management grew its stake in shares of Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 92 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 1.6 %

NYSE:PLD opened at $112.00 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a 50-day simple moving average of $117.84 and a 200 day simple moving average of $118.81. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a market capitalization of $103.73 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 3.40 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 earnings per share. Sell-side analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.96 per share. The ex-dividend date is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.43%. Prologis’s dividend payout ratio is currently 116.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company lifted their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Barclays increased their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Morgan Stanley lifted their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned 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 a consensus price target of $130.13.

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.