412 Shares in Prologis, Inc. (NYSE:PLD) Bought by Coastline Trust Co

Coastline Trust Co purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 412 shares of the real estate investment trust’s stock, valued at approximately $52,000.

Several other large investors have also bought and sold shares of PLD. Empowered Funds LLC boosted its holdings in shares of Prologis by 117.9% during the 3rd quarter. Empowered Funds LLC now owns 34,755 shares of the real estate investment trust’s stock worth $4,389,000 after buying an additional 18,807 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its position in Prologis by 5.0% in the third quarter. Signature Estate & Investment Advisors LLC now owns 183,424 shares of the real estate investment trust’s stock worth $23,163,000 after purchasing an additional 8,766 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Prologis by 11.3% during the 3rd quarter. CIBC Asset Management Inc now owns 187,992 shares of the real estate investment trust’s stock valued at $23,740,000 after acquiring an additional 19,029 shares during the period. Balboa Wealth Partners bought a new position in shares of Prologis during the 3rd quarter worth $262,000. Finally, ING Groep NV grew its stake in Prologis by 1.1% in the 3rd quarter. ING Groep NV now owns 125,047 shares of the real estate investment trust’s stock valued at $15,791,000 after buying an additional 1,378 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Trading Down 1.2 %

Prologis stock opened at $113.42 on Friday. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The company has a market cap of $105.05 billion, a P/E ratio of 34.27, a P/E/G ratio of 3.06 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The business has a 50-day simple moving average of $121.34 and a two-hundred day simple moving average of $118.05.

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

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Morgan Stanley increased their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

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.