Cardano Risk Management B.V. Purchases Shares of 867,743 Prologis, Inc. (NYSE:PLD)

Cardano Risk Management B.V. bought a new stake in Prologis, Inc. (NYSE:PLD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 867,743 shares of the real estate investment trust’s stock, valued at approximately $109,579,000. Prologis comprises approximately 1.9% of Cardano Risk Management B.V.’s portfolio, making the stock its 18th largest holding. Cardano Risk Management B.V. owned 0.09% of Prologis at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Prologis in the third quarter valued at about $693,000. Natixis Advisors LLC lifted its stake in Prologis by 16.1% in the 3rd quarter. Natixis Advisors LLC now owns 1,371,225 shares of the real estate investment trust’s stock valued at $173,159,000 after acquiring an additional 189,742 shares in the last quarter. Coastline Trust Co acquired a new position in Prologis during the 3rd quarter worth approximately $52,000. Empowered Funds LLC grew its stake in shares of Prologis by 117.9% during the 3rd quarter. Empowered Funds LLC now owns 34,755 shares of the real estate investment trust’s stock worth $4,389,000 after acquiring an additional 18,807 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its holdings in shares of Prologis by 5.0% in the third quarter. Signature Estate & Investment Advisors LLC now owns 183,424 shares of the real estate investment trust’s stock valued at $23,163,000 after purchasing an additional 8,766 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 1.2 %

PLD opened at $113.42 on Friday. The stock’s 50 day moving average price is $121.34 and its 200-day moving average price is $118.05. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. 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 stock has a market cap of $105.05 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last issued 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 for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PLD shares. Evercore ISI lifted their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. JPMorgan Chase & Co. cut their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Scotiabank lowered their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

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.