Bank of Nova Scotia Increases Stake in Prologis, Inc. $PLD

Bank of Nova Scotia lifted its position in Prologis, Inc. (NYSE:PLD) by 30.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,542 shares of the real estate investment trust’s stock after acquiring an additional 35,922 shares during the quarter. Bank of Nova Scotia’s holdings in Prologis were worth $17,698,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PLD. Clayton Financial Group LLC bought a new stake in Prologis in the third quarter worth about $26,000. Silver Oak Securities Incorporated purchased a new position in shares of Prologis during the third quarter valued at approximately $36,000. Rossby Financial LCC grew its stake in shares of Prologis by 69.6% during the third quarter. Rossby Financial LCC now owns 329 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 135 shares during the last quarter. Dogwood Wealth Management LLC grew its stake in shares of Prologis by 87.3% during the third quarter. Dogwood Wealth Management LLC now owns 339 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 158 shares during the last quarter. Finally, Clear Investment Research LLC raised its holdings in shares of Prologis by 34.5% in the third quarter. Clear Investment Research LLC now owns 343 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 88 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 1.7%

Shares of NYSE:PLD opened at $134.03 on Tuesday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $143.95. The stock has a market cap of $124.59 billion, a P/E ratio of 37.75, a price-to-earnings-growth ratio of 3.12 and a beta of 1.41. The business’s 50 day moving average is $134.59 and its 200 day moving average is $126.51. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, January 21st. The real estate investment trust reported $1.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.44. Prologis had a return on equity of 5.79% and a net margin of 37.86%.The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company posted $1.42 EPS. Prologis’s revenue was up 7.8% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $1.07 dividend. The ex-dividend date is Tuesday, March 17th. This is an increase from Prologis’s previous quarterly dividend of $1.01. This represents a $4.28 annualized dividend and a dividend yield of 3.2%. Prologis’s dividend payout ratio is presently 113.80%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLD. BNP Paribas Exane raised their price target on Prologis from $129.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Truist Financial reduced their target price on Prologis from $142.00 to $139.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Morgan Stanley set a $135.00 target price on Prologis in a research report on Friday, January 16th. Citigroup began coverage on shares of Prologis in a research note on Thursday, March 5th. They set a “buy” rating and a $145.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Prologis in a report on Monday, December 29th. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Prologis 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.