Healthcare of Ontario Pension Plan Trust Fund Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 17.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,212,900 shares of the real estate investment trust’s stock after buying an additional 178,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.13% of Prologis worth $153,165,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after buying an additional 317,815 shares during the last quarter. Principal Financial Group Inc. boosted its position in Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after purchasing an additional 167,131 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after purchasing an additional 441,841 shares during the period. Daiwa Securities Group Inc. boosted its position in Prologis by 16.3% during the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock worth $767,398,000 after purchasing an additional 958,914 shares during the period. Finally, Swedbank AB boosted its position in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their target price 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. Barclays increased their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Truist Financial raised their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $131.25.

Prologis Trading Down 1.6 %

PLD stock opened at $116.16 on Wednesday. The company has a market capitalization of $107.58 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company’s 50 day moving average price is $119.27 and its two-hundred day moving average price is $118.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.31%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

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.