DAVENPORT & Co LLC Buys 13,666 Shares of Prologis, Inc. $PLD

DAVENPORT & Co LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 36.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,912 shares of the real estate investment trust’s stock after buying an additional 13,666 shares during the quarter. DAVENPORT & Co LLC’s holdings in Prologis were worth $5,830,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ignite Planners LLC boosted its stake in shares of Prologis by 3.2% in the 3rd quarter. Ignite Planners LLC now owns 2,937 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 92 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Prologis by 0.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock valued at $1,438,000 after purchasing an additional 93 shares during the last quarter. Michael S. Ryan Inc. boosted its position in Prologis by 2.9% in the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 94 shares in the last quarter. Stableford Capital II LLC grew its stake in Prologis by 0.4% during the third quarter. Stableford Capital II LLC now owns 21,090 shares of the real estate investment trust’s stock worth $2,415,000 after buying an additional 94 shares during the last quarter. Finally, Palogic Value Management L.P. increased its holdings in shares of Prologis by 4.7% during the second quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 96 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 0.9%

NYSE PLD opened at $128.94 on Friday. The stock has a fifty day moving average of $126.52 and a 200-day moving average of $115.88. The stock has a market capitalization of $119.77 billion, a P/E ratio of 37.59, a price-to-earnings-growth ratio of 3.97 and a beta of 1.40. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $131.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $2.21 billion for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. On average, equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. Prologis’s payout ratio is currently 117.78%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PLD shares. Truist Financial reissued a “buy” rating and issued a $131.00 target price (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Evercore ISI boosted their price objective on Prologis from $116.00 to $118.00 in a research note on Monday. Wells Fargo & Company increased their target price on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Prologis in a research note on Monday. Finally, BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.00.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the transaction, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,621 shares of company stock worth $198,655 over the last ninety days. Insiders own 0.57% of the company’s stock.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.