abrdn plc raised its stake in Prologis, Inc. (NYSE:PLD) by 20.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,713,019 shares of the real estate investment trust’s stock after acquiring an additional 285,900 shares during the quarter. abrdn plc owned approximately 0.23% of Prologis worth $204,757,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new position in Prologis in the second quarter valued at approximately $26,000. Logan Capital Management Inc. acquired a new position in Prologis in the first quarter valued at approximately $29,000. Meridian Wealth Partners LLC raised its stake in shares of Prologis by 70.3% during the 1st quarter. Meridian Wealth Partners LLC now owns 441 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 182 shares during the period. Tompkins Financial Corp raised its stake in shares of Prologis by 1,592.9% during the 1st quarter. Tompkins Financial Corp now owns 474 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 446 shares during the period. Finally, Summit Wealth Group LLC acquired a new position in shares of Prologis during the 1st quarter worth approximately $56,000. 93.04% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on PLD. Morgan Stanley upped their target price on Prologis from $120.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, July 15th. Deutsche Bank Aktiengesellschaft upped their target price on Prologis from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, August 18th. Raymond James upped their target price on Prologis from $138.00 to $143.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 21st. Truist Securities upped their target price on Prologis from $123.00 to $137.00 and gave the stock a “buy” rating in a research note on Saturday, July 31st. Finally, Wolfe Research assumed coverage on Prologis in a research note on Monday, June 14th. They issued a “peer perform” rating and a $133.00 price objective for the company. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Buy” and a consensus target price of $135.20.
Prologis (NYSE:PLD) last issued its earnings results on Sunday, July 18th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.37. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Prologis had a return on equity of 4.27% and a net margin of 34.54%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 EPS. On average, analysts forecast that Prologis, Inc. will post 4.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Friday, September 17th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, September 16th. Prologis’s dividend payout ratio is presently 66.32%.
Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.
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