Nicola Wealth Management LTD. Increases Holdings in Prologis, Inc. (NYSE:PLD)

Nicola Wealth Management LTD. increased its stake in Prologis, Inc. (NYSE:PLD) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 157,418 shares of the real estate investment trust’s stock after purchasing an additional 3,600 shares during the quarter. Prologis comprises about 1.9% of Nicola Wealth Management LTD.’s holdings, making the stock its 20th largest position. Nicola Wealth Management LTD.’s holdings in Prologis were worth $20,698,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PLD. Swedbank AB purchased a new position in shares of Prologis in the first quarter valued at $596,614,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Prologis during the second quarter worth about $203,223,000. Vanguard Group Inc. grew its position in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. AMF Tjanstepension AB grew its position in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after buying an additional 1,358,542 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Trading Down 0.9 %

Shares of NYSE PLD traded down $1.03 during midday trading on Thursday, reaching $115.54. The company had a trading volume of 1,418,803 shares, compared to its average volume of 3,636,715. The firm’s fifty day moving average price is $121.87 and its 200-day moving average price is $117.90. The stock has a market cap of $107.01 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.96 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. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52.

Prologis (NYSE:PLD) last released its quarterly 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). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 EPS. On average, equities research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PLD shares. Wells Fargo & Company boosted 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. Morgan Stanley lifted their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Scotiabank dropped their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Barclays dropped their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

About Prologis

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.