Global X Japan Co. Ltd. buys 1,495 shares of Prologis, Inc. (NYSE:PLD)

VaselineSeptember 11, 2024

0 4 minutes read

Prologis logo Global X Japan Co. Ltd. increased its stake in Prologis, Inc. (NYSE:PLD – Free Report) by 111.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,842 shares of the real estate investment trust’s stock after purchasing an additional 1,495 shares during the period. The holdings of Global X Japan Co. Ltd.’s holdings in Prologis were worth $319,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Optimum Investment Advisors bought a new stake in shares of Prologis in the first quarter valued at approximately $26,000. American Capital Advisory LLC bought a new position in Prologis in the second quarter valued at about $26,000. True Wealth Design LLC bought a new position in Prologis in the fourth quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new position in Prologis in the second quarter valued at about $29,000. Finally, Clear Investment Research LLC boosted its stake in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares during the period. Institutional investors own 93.50% of the company’s shares.

Changes in Analyst Ratings

PLD has been the subject of several analyst reports. Argus upped their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Barclays upped their target price on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley boosted their target price 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. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $124.00 to $127.00 in a research note on Monday , August 5. Finally, Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.12, according to MarketBeat .

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Insiders place their bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction 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 transaction, the director now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. The insiders of the company own 0.50% of the shares of the company.

Prologis price performance

PLD opened at $132.41 on Wednesday. The company has a fifty day moving average price of $123.42 and a two hundred day moving average price of $118.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36, and a current ratio of 0.36. Prologis, Inc. it has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market cap of $122.59 billion, a PE ratio of 38.71, a P/E/G ratio of 3.27 and a beta of 1.07.

Prologis (NYSE:PLD – Get Your Free Report ) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm posted EPS of $1.83. Prologis’ revenue fell 18.1% year over year. As a group, analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm 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 dividend of $0.96 per share. This represents a dividend of $3.84 on an annualized basis and a yield of 2.90%. The ex-dividend date is Monday, September 16. Prologis’s dividend payout ratio is currently 112.28%.

Prologis profile

(Free Report)

Prologis, Inc is the global leader in real estate logistics with a focus on high barrier and high growth markets. As of March 31, 2024, the company owned or had investments in, on a wholly owned or co-investment basis, properties and development projects estimated to total approximately 1.2 billion square meters (115 million square feet) in 19 countries.