Pacer Advisors Inc. boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 28.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 374,963 shares of the real estate investment trust’s stock after acquiring an additional 82,361 shares during the quarter. Prologis accounts for 0.6% of Pacer Advisors Inc.’s portfolio, making the stock its 20th biggest holding. Pacer Advisors Inc. owned 0.05% of Prologis worth $47,032,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Bridgewater Associates LP purchased a new stake in Prologis during the second quarter valued at $1,358,000. abrdn plc increased its position in Prologis by 20.0% during the second quarter. abrdn plc now owns 1,713,019 shares of the real estate investment trust’s stock valued at $204,757,000 after acquiring an additional 285,900 shares during the last quarter. Bank of Montreal Can increased its position in Prologis by 89.9% during the second quarter. Bank of Montreal Can now owns 2,910,616 shares of the real estate investment trust’s stock valued at $354,018,000 after acquiring an additional 1,377,517 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in Prologis by 37.7% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,970 shares of the real estate investment trust’s stock valued at $1,789,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in Prologis by 11.8% during the second quarter. Neuberger Berman Group LLC now owns 2,417,602 shares of the real estate investment trust’s stock valued at $287,894,000 after acquiring an additional 255,152 shares during the last quarter. Institutional investors own 92.23% of the company’s stock.
In related news, Director William D. Zollars sold 1,380 shares of the stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $146.20, for a total transaction of $201,756.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Irving F. Lyons III sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $133.53, for a total value of $3,204,720.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 345,380 shares of company stock valued at $49,569,018. 0.87% of the stock is owned by corporate insiders.
Prologis (NYSE:PLD) last released its quarterly earnings data on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Prologis had a return on equity of 5.42% and a net margin of 42.95%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $0.90 EPS. Research analysts expect that Prologis, Inc. will post 4.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Friday, September 17th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, September 16th. Prologis’s payout ratio is presently 95.09%.
PLD has been the subject of a number of research reports. Truist Securities upped their price objective on Prologis from $123.00 to $137.00 and gave the company a “buy” rating in a research report on Saturday, July 31st. Deutsche Bank Aktiengesellschaft upped their price target on Prologis from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, August 18th. BTIG Research upped their price target on Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, October 20th. The Goldman Sachs Group upgraded Prologis from a “buy” rating to a “conviction-buy” rating and upped their price target for the stock from $166.00 to $180.00 in a research report on Thursday, October 21st. Finally, Raymond James upped their price target on Prologis from $143.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Buy” and an average target price of $149.73.
Prologis Company Profile
Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.
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