Shum Financial Group Inc. Buys Shares of 9,468 Prologis, Inc. (NYSE:PLD)

Shum Financial Group Inc. bought a new position in Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,468 shares of the real estate investment trust’s stock, valued at approximately $1,196,000.

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

Analyst Ratings Changes

A number of analysts recently issued reports on PLD shares. Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Morgan Stanley lifted their price objective 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. Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Bank of America reissued a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Trading Down 1.9 %

Shares of NYSE PLD traded down $2.21 during midday trading on Tuesday, reaching $115.86. 490,589 shares of the stock were exchanged, compared to its average volume of 3,645,748. The stock has a market capitalization of $107.31 billion, a P/E ratio of 35.66, a PEG ratio of 3.05 and a beta of 1.08. 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 50 day simple moving average of $119.53 and a 200 day simple moving average of $118.55. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results 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). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the business earned $1.30 EPS. Prologis’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.31%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 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.