D.A. Davidson & CO. Raises Stock Holdings in Prologis, Inc. $PLD

D.A. Davidson & CO. grew its position in shares of Prologis, Inc. (NYSE:PLD) by 16.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 587,157 shares of the real estate investment trust’s stock after acquiring an additional 83,966 shares during the quarter. D.A. Davidson & CO. owned about 0.06% of Prologis worth $67,241,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLD. Norges Bank bought a new position in Prologis during the second quarter valued at $1,288,936,000. Franklin Resources Inc. increased its holdings in shares of Prologis by 216.0% in the 2nd quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock worth $1,056,545,000 after buying an additional 6,870,479 shares during the last quarter. State Street Corp raised its position in shares of Prologis by 1.9% during the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after buying an additional 1,088,544 shares in the last quarter. Strs Ohio purchased a new stake in shares of Prologis during the 1st quarter valued at about $98,308,000. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Prologis by 11,585.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 882,398 shares of the real estate investment trust’s stock valued at $92,758,000 after acquiring an additional 874,847 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock opened at $129.03 on Monday. The stock has a 50 day moving average price of $126.81 and a 200 day moving average price of $116.88. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $131.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $119.85 billion, a P/E ratio of 37.62, a P/E/G ratio of 3.78 and a beta of 1.40.

Prologis (NYSE:PLD) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.21 billion for the quarter. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays reduced their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Industrial Alliance Securities set a $119.00 target price on Prologis in a research report on Monday, October 20th. Scotiabank increased their price target on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and raised their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Finally, Truist Financial reiterated a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.24.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. The trade was a 7.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by insiders.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.