Sigma Investment Counselors Inc. Buys 678 Shares of Prologis, Inc. (NYSE:PLD)

Sigma Investment Counselors Inc. increased its holdings in Prologis, Inc. (NYSE:PLDGet Rating) by 2.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 30,550 shares of the real estate investment trust’s stock after acquiring an additional 678 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Prologis were worth $3,594,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Prologis during the fourth quarter valued at about $1,172,128,000. State Street Corp grew its stake in shares of Prologis by 10.4% during the first quarter. State Street Corp now owns 51,717,111 shares of the real estate investment trust’s stock valued at $8,351,279,000 after buying an additional 4,861,668 shares during the last quarter. BlackRock Inc. grew its stake in shares of Prologis by 5.7% in the fourth quarter. BlackRock Inc. now owns 77,044,162 shares of the real estate investment trust’s stock worth $12,971,155,000 after purchasing an additional 4,127,777 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of Prologis by 23.5% in the first quarter. Cohen & Steers Inc. now owns 18,488,000 shares of the real estate investment trust’s stock worth $2,985,801,000 after purchasing an additional 3,513,643 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Prologis by 1.9% in the first quarter. Vanguard Group Inc. now owns 97,672,838 shares of the real estate investment trust’s stock worth $15,772,211,000 after purchasing an additional 1,814,967 shares during the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PLD shares. Jefferies Financial Group cut their target price on Prologis from $174.00 to $146.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Raymond James cut their price objective on Prologis from $190.00 to $160.00 in a research report on Thursday, July 21st. Wolfe Research raised Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, August 24th. Evercore ISI cut their price objective on Prologis from $134.00 to $133.00 and set an “in-line” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company lifted their price objective on Prologis from $160.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $173.31.

Prologis Stock Up 0.1 %

NYSE PLD traded up $0.10 during mid-day trading on Friday, reaching $108.64. The stock had a trading volume of 128,147 shares, compared to its average volume of 3,393,843. Prologis, Inc. has a 1 year low of $106.46 and a 1 year high of $174.54. The stock has a market cap of $80.43 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.88. The company has a fifty day moving average price of $126.98 and a 200 day moving average price of $135.40. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.42 and a quick ratio of 0.42.

Prologis (NYSE:PLDGet Rating) last announced its quarterly earnings data on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.30). The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Prologis had a return on equity of 9.85% and a net margin of 75.72%. Prologis’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, research analysts expect that Prologis, Inc. will post 5.17 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.91%. Prologis’s dividend payout ratio is presently 63.20%.

Prologis Profile

(Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

Further Reading

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLDGet Rating).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.