Vision Capital Corp Has $15.38 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Vision Capital Corp trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 63.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,800 shares of the real estate investment trust’s stock after selling 209,922 shares during the quarter. Prologis accounts for 2.5% of Vision Capital Corp’s portfolio, making the stock its 14th largest holding. Vision Capital Corp’s holdings in Prologis were worth $15,381,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. ASB Consultores LLC boosted its stake in Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 86 shares in the last quarter. Arbor Capital Management Inc. ADV grew its holdings in shares of Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares during 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 worth $423,000 after purchasing an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA increased its position in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares in the last quarter. Finally, Destination Wealth Management lifted its holdings in Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on PLD. Scotiabank dropped their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Morgan Stanley boosted their price objective on 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 raised their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.25.

Prologis Stock Up 1.0 %

Shares of Prologis stock opened at $116.99 on Monday. 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 12 month low of $101.11 and a 12 month high of $137.52. The stock has a market cap of $108.35 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08. The business has a fifty day simple moving average of $119.75 and a 200 day simple moving average of $118.48.

Prologis (NYSE:PLD) last posted 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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Research analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm 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. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.28%. Prologis’s payout ratio is 116.01%.

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.