Cape Cod Five Cents Savings Bank Cuts Holdings in Prologis, Inc. (NYSE:PLD)

Cape Cod Five Cents Savings Bank reduced its holdings in Prologis, Inc. (NYSE:PLD) by 7.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,431 shares of the real estate investment trust’s stock after selling 418 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in Prologis were worth $686,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after buying an additional 2,138,693 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Prologis during the second quarter worth about $203,223,000. AMF Tjanstepension AB increased its holdings in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after acquiring an additional 1,358,542 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Prologis stock opened at $112.00 on Monday. 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 company has a market cap of $103.73 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52. The firm has a 50 day moving average price of $117.57 and a 200 day moving average price of $118.93.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business posted $1.30 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

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

Wall Street Analyst Weigh In

PLD has been the subject of several research analyst reports. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Scotiabank cut their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Morgan Stanley lifted their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, Evercore ISI increased their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.