Metis Global Partners LLC Acquires 26,802 Shares of Prologis, Inc. (NYSE:PLD)

Metis Global Partners LLC grew its position in Prologis, Inc. (NYSE:PLD) by 20.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 155,217 shares of the real estate investment trust’s stock after buying an additional 26,802 shares during the period. Prologis accounts for approximately 0.6% of Metis Global Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Metis Global Partners LLC’s holdings in Prologis were worth $19,601,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Semmax Financial Advisors Inc. bought a new position in Prologis during the second quarter worth about $27,000. American Capital Advisory LLC acquired a new position in shares of Prologis during the 2nd quarter worth about $26,000. Central Valley Advisors LLC acquired a new position in Prologis during the second quarter worth $29,000. Sunbelt Securities Inc. lifted its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis in the 2nd quarter valued at about $31,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.1 %

Shares of NYSE PLD opened at $116.66 on Thursday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market cap of $108.05 billion, a PE ratio of 35.21, a P/E/G ratio of 2.96 and a beta of 1.08. The company’s fifty day simple moving average is $121.87 and its 200 day simple moving average is $117.90.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend yield of 3.29%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank reduced their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $131.12.

Insider Buying and Selling

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

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.