Healthcare of Ontario Pension Plan Trust Fund Acquires 178,900 Shares of Prologis, Inc. (NYSE:PLD)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 17.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,212,900 shares of the real estate investment trust’s stock after buying an additional 178,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Prologis were worth $153,165,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PLD. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Prologis by 48.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 20,792 shares of the real estate investment trust’s stock valued at $2,708,000 after buying an additional 6,780 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in shares of Prologis by 379.1% during the 1st quarter. Beacon Capital Management LLC now owns 872 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 690 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Prologis during the 1st quarter valued at $232,000. Wahed Invest LLC boosted its stake in Prologis by 17.3% in the 1st quarter. Wahed Invest LLC now owns 18,307 shares of the real estate investment trust’s stock worth $2,384,000 after purchasing an additional 2,701 shares in the last quarter. Finally, Pacific Center for Financial Services bought a new position in Prologis in the 1st quarter worth about $154,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLD. 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 research note on Monday, October 21st. Evercore ISI upped 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. Wells Fargo & Company upped their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Finally, Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

Prologis Price Performance

NYSE PLD opened at $116.16 on Wednesday. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The firm has a market capitalization of $107.58 billion, a P/E ratio of 35.09, a PEG ratio of 3.45 and a beta of 1.08. 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 company has a 50-day moving average price of $119.27 and a 200-day moving average price of $118.61.

Prologis (NYSE:PLD) last released its quarterly earnings results 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 business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company earned $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

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.