MCF Advisors LLC Buys 279 Shares of Prologis, Inc. (NYSE:PLD)

MCF Advisors LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,325 shares of the real estate investment trust’s stock after acquiring an additional 279 shares during the period. MCF Advisors LLC’s holdings in Prologis were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PLD. Valeo Financial Advisors LLC raised its position in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Norges Bank bought a new position in shares of Prologis during the fourth quarter valued at approximately $1,074,648,000. Capital World Investors raised its holdings in shares of Prologis by 1,252.9% in the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after buying an additional 6,765,582 shares during the period. Swedbank AB purchased a new position in Prologis during the 1st quarter valued at $596,614,000. Finally, Alphinity Investment Management Pty Ltd purchased a new position in Prologis in the 1st quarter worth about $465,659,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PLD. The Goldman Sachs Group boosted their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Scotiabank boosted their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Evercore ISI increased their price objective on Prologis from $122.00 to $124.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Barclays lifted their target price on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $133.12.

Prologis Stock Performance

PLD stock opened at $127.41 on Friday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The firm has a market cap of $117.96 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 3.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a 50-day simple moving average of $122.37 and a two-hundred day simple moving average of $119.07.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue was down 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.83 EPS. On average, equities analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.96 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.01%. Prologis’s payout ratio is 112.28%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.50% of the stock is owned by company insiders.

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.