Dunhill Financial LLC Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Dunhill Financial LLC increased its holdings in Prologis, Inc. (NYSE:PLD) by 239.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 258 shares of the real estate investment trust’s stock after buying an additional 182 shares during the period. Dunhill Financial LLC’s holdings in Prologis were worth $33,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swedbank AB grew its position in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares during the period. Sunflower Bank N.A. purchased a new position in Prologis during the 3rd quarter valued at about $249,000. Abundance Wealth Counselors bought a new stake in shares of Prologis during the second quarter valued at about $973,000. Finally, Coronation Fund Managers Ltd. purchased a new stake in shares of Prologis in the second quarter worth about $878,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $112.00 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $103.73 billion, a P/E ratio of 33.84, a P/E/G ratio of 3.36 and a beta of 1.07. The firm’s fifty day moving average is $117.57 and its 200 day moving average is $118.93. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Monday, December 16th. Prologis’s dividend payout ratio is 116.01%.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Evercore ISI upped their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Scotiabank reduced their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $130.13.

Prologis Company 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.