Hilton Capital Management LLC Has $9.24 Million Stake in Prologis, Inc. (NYSE:PLD)

Hilton Capital Management LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 56.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,159 shares of the real estate investment trust’s stock after buying an additional 26,459 shares during the period. Hilton Capital Management LLC’s holdings in Prologis were worth $9,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Prologis by 2.5% during the 2nd 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 acquiring an additional 317,815 shares during the period. Principal Financial Group Inc. lifted its stake 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 last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Prologis by 16.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock valued at $767,398,000 after purchasing an additional 958,914 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Prologis by 5.9% in the 1st quarter. Lazard Asset Management LLC now owns 6,126,318 shares of the real estate investment trust’s stock valued at $797,767,000 after purchasing an additional 340,948 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Prologis by 0.8% during the 1st quarter. Capital Research Global Investors now owns 5,340,371 shares of the real estate investment trust’s stock worth $695,423,000 after buying an additional 43,538 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PLD shares. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Evercore ISI raised their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Finally, Scotiabank reduced their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.18.

Prologis Stock Up 0.4 %

Shares of NYSE PLD opened at $115.13 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $106.63 billion, a PE ratio of 34.78, a P/E/G ratio of 2.98 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 business’s fifty day moving average price is $120.69 and its 200-day moving average price is $118.30.

Prologis (NYSE:PLD) last released its quarterly earnings data 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 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 last year, the company earned $1.30 earnings per share. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.34%. Prologis’s payout ratio is 116.01%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 28.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.

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.