Shum Financial Group Inc. Invests $1.20 Million in Prologis, Inc. (NYSE:PLD)

Shum Financial Group Inc. acquired a new stake in Prologis, Inc. (NYSE:PLD) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 9,468 shares of the real estate investment trust’s stock, valued at approximately $1,196,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PLD. Swedbank AB acquired a new position in shares of Prologis in the first quarter valued at approximately $596,614,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Prologis in the 2nd quarter valued at approximately $203,223,000. AMF Tjanstepension AB raised its holdings in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after purchasing an additional 1,358,542 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Prologis by 137.7% during 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 purchasing an additional 1,075,614 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent analyst reports. Scotiabank dropped their price target 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. Wells Fargo & Company lifted 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. Truist Financial upped their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Morgan Stanley boosted their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.25.

Prologis Price Performance

Shares of NYSE PLD traded down $2.21 on Tuesday, hitting $115.86. The company’s stock had a trading volume of 490,589 shares, compared to its average volume of 3,645,748. 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 50 day moving average of $119.53 and a 200-day moving average of $118.55. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a market capitalization of $107.31 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (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 firm 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 posted $1.30 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.31%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

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.