Maryland Capital Advisors Inc. purchased a new stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 809 shares of the real estate investment trust’s stock, valued at approximately $102,000.
Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in Prologis by 380.0% during the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB grew its position in Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after acquiring an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after acquiring an additional 43,235 shares during the last quarter. US Bancorp DE raised its position in Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after purchasing an additional 41,469 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its position in Prologis by 5.7% during the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after purchasing an additional 367,565 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.
Insiders Place Their Bets
In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred 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 transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Analysis on Prologis
Prologis Stock Performance
Prologis stock opened at $118.94 on Wednesday. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock’s 50 day simple moving average is $125.31 and its two-hundred day simple moving average is $117.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $110.12 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 3.05 and a beta of 1.07.
Prologis (NYSE:PLD – Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 earnings per share. As a group, analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.
Prologis Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.23%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 112.28%.
About Prologis
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.
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