Greystone Financial Group LLC Purchases New Shares in Prologis, Inc. (NYSE:PLD)

Greystone Financial Group LLC acquired a new position in Prologis, Inc. (NYSE:PLD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 57,823 shares of the real estate investment trust’s stock, valued at approximately $6,494,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Cullen Frost Bankers Inc. boosted its stake in shares of Prologis by 1.1% in the second quarter. Cullen Frost Bankers Inc. now owns 67,666 shares of the real estate investment trust’s stock valued at $7,600,000 after buying an additional 718 shares during the period. Seven Post Investment Office LP raised its position in shares of Prologis by 0.8% in the 2nd quarter. Seven Post Investment Office LP now owns 159,301 shares of the real estate investment trust’s stock valued at $17,891,000 after buying an additional 1,208 shares in the last quarter. Sustainable Insight Capital Management LLC lifted its stake in Prologis by 16.9% during the second quarter. Sustainable Insight Capital Management LLC now owns 2,400 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 347 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in shares of Prologis by 4.9% in the 2nd quarter. New York Life Investment Management LLC now owns 204,343 shares of the real estate investment trust’s stock valued at $22,950,000 after purchasing an additional 9,547 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Prologis by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 268,177 shares of the real estate investment trust’s stock valued at $30,119,000 after purchasing an additional 3,028 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Morgan Stanley raised their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Barclays upped their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Mizuho cut their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Down 0.1 %

NYSE:PLD traded down $0.18 on Friday, hitting $127.23. The stock had a trading volume of 2,484,242 shares, compared to its average volume of 3,616,621. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The business’s fifty day moving average is $122.67 and its 200 day moving average is $119.03. The company has a market cap of $117.80 billion, a PE ratio of 37.20, a P/E/G ratio of 3.28 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $1.83 earnings per share. The company’s revenue was down 18.1% on a year-over-year basis. On average, equities research analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.02%. Prologis’s dividend payout ratio is presently 112.28%.

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.