Brooklyn Investment Group Acquires 500 Shares of Prologis, Inc. (NYSE:PLD)

Brooklyn Investment Group lifted its holdings in Prologis, Inc. (NYSE:PLD) by 11.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,760 shares of the real estate investment trust’s stock after purchasing an additional 500 shares during the quarter. Brooklyn Investment Group’s holdings in Prologis were worth $601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB bought a new stake in shares of Prologis during the first quarter valued at approximately $596,614,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Prologis during the 2nd quarter worth $203,223,000. AMF Tjanstepension AB lifted its holdings in Prologis by 267.9% during the 3rd 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. Federated Hermes Inc. boosted its position in Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after buying an additional 1,358,542 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Prologis by 137.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock valued at $208,518,000 after buying an additional 1,075,614 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Evercore ISI boosted their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays increased their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $131.25.

Prologis Stock Performance

PLD opened at $117.48 on Tuesday. The business’s 50-day simple moving average is $119.53 and its 200 day simple moving average is $118.55. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. 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 firm has a market capitalization of $108.81 billion, a PE ratio of 35.66, a PEG ratio of 3.05 and a beta of 1.08.

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

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

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.