Peapack Gladstone Financial Corp Has $4.62 Million Stake in Prologis, Inc. (NYSE:PLD)

Peapack Gladstone Financial Corp reduced its holdings in Prologis, Inc. (NYSE:PLD) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,572 shares of the real estate investment trust’s stock after selling 279 shares during the period. Peapack Gladstone Financial Corp’s holdings in Prologis were worth $4,618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Semmax Financial Advisors Inc. acquired a new stake in Prologis in the second quarter worth $27,000. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter worth $26,000. Dunhill Financial LLC lifted its holdings in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis in the second quarter worth about $31,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Down 0.5 %

Prologis stock opened at $111.13 on Friday. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The firm has a market capitalization of $102.93 billion, a PE ratio of 33.57, a P/E/G ratio of 3.27 and a beta of 1.07. The company’s 50-day moving average is $116.44 and its 200-day moving average is $119.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last released 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company earned $1.30 EPS. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.46%. Prologis’s dividend payout ratio is currently 116.01%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Scotiabank decreased their price objective 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. Wells Fargo & Company raised their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Raymond James reissued an “outperform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research note on Wednesday. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Hold” and a consensus target price of $128.88.

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.