Mackenzie Financial Corp Buys 4,952 Shares of Prologis, Inc. (NYSE:PLD)

Mackenzie Financial Corp increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,838 shares of the real estate investment trust’s stock after acquiring an additional 4,952 shares during the quarter. Mackenzie Financial Corp’s holdings in Prologis were worth $13,684,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PLD. Gilbert & Cook Inc. lifted its holdings in Prologis by 4.4% during the fourth quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock worth $731,000 after acquiring an additional 233 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Prologis by 61.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock worth $692,000 after acquiring an additional 1,995 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Prologis by 1.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,220 shares of the real estate investment trust’s stock worth $1,762,000 after acquiring an additional 145 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Prologis during the fourth quarter worth $474,000. Finally, KBC Group NV lifted its holdings in Prologis by 7.5% during the fourth quarter. KBC Group NV now owns 444,377 shares of the real estate investment trust’s stock worth $59,236,000 after acquiring an additional 30,905 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’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 transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Prologis Trading Up 0.3 %

Shares of PLD stock opened at $125.59 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $125.83 and a two-hundred day moving average price of $118.26. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm has a market cap of $116.28 billion, a P/E ratio of 36.72, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $1.83 EPS. The company’s revenue was down 18.1% on a year-over-year basis. Equities analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is 112.28%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PLD. BMO Capital Markets restated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. The Goldman Sachs Group boosted their target price on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Scotiabank boosted their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Finally, Argus boosted their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.35.

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.