Prologis, Inc. (NYSE:PLD) Stock Position Lessened by Vision Capital Corp

Vision Capital Corp lessened its stake in Prologis, Inc. (NYSE:PLD) by 63.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,800 shares of the real estate investment trust’s stock after selling 209,922 shares during the period. Prologis accounts for 2.5% of Vision Capital Corp’s portfolio, making the stock its 14th biggest holding. Vision Capital Corp’s holdings in Prologis were worth $15,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB bought a new stake in Prologis during the first quarter worth approximately $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis in the 2nd quarter worth $203,223,000. AMF Tjanstepension AB lifted its holdings in shares of Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares during the period. Federated Hermes Inc. boosted its stake in Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after buying an additional 1,358,542 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in Prologis by 137.7% in the second quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock worth $208,518,000 after acquiring an additional 1,075,614 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

NYSE:PLD opened at $116.99 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $108.35 billion, a P/E ratio of 34.98, a PEG ratio of 3.05 and a beta of 1.08. The company has a fifty day moving average price of $119.75 and a 200 day moving average price of $118.48. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52.

Prologis (NYSE:PLD) last released its 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.28%. Prologis’s payout ratio is 116.01%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PLD shares. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Bank of America restated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Scotiabank dropped their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis 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.