Janney Capital Management LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

by · The Cerbat Gem

Janney Capital Management LLC raised its position in Prologis, Inc. (NYSE:PLD – Free Report) by 1.8% in the third quarter, Holdings Channel reports. The fund owned 21,682 shares of the real estate investment trust’s stock after buying an additional 373 shares during the period. Janney Capital Management LLC’s holdings in Prologis were worth $2,738,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PLD. Swedbank AB purchased a new position in Prologis in the first quarter worth approximately $596,614,000. Alphinity Investment Management Pty Ltd purchased a new position in Prologis in the first quarter worth approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Prologis in the second quarter worth approximately $203,223,000. Vanguard Group Inc. lifted its stake in Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its stake in 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 worth $236,879,000 after acquiring an additional 1,365,811 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. BMO Capital Markets restated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Morgan Stanley boosted their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, 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. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Check Out Our Latest Stock Report on Prologis

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Stock Performance

Shares of PLD opened at $113.40 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.36 and a current ratio of 0.43. The stock has a market capitalization of $105.03 billion, a P/E ratio of 34.26, a P/E/G ratio of 3.04 and a beta of 1.08. The company’s fifty day moving average is $124.01 and its two-hundred day moving average is $117.33. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

Prologis (NYSE:PLD – Get Free Report) 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). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 earnings per share. On average, sell-side analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 annualized dividend and a yield of 3.39%. Prologis’s dividend payout ratio is currently 116.01%.

Prologis Company Profile

(Free Report)

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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