OFI Invest Asset Management Grows Position in Prologis, Inc. $PLD

OFI Invest Asset Management raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the third quarter, HoldingsChannel reports. The firm owned 351,772 shares of the real estate investment trust’s stock after purchasing an additional 5,019 shares during the period. OFI Invest Asset Management’s holdings in Prologis were worth $40,285,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PLD. Jump Financial LLC bought a new stake in shares of Prologis in the 1st quarter valued at about $2,120,000. Inspire Investing LLC lifted its position in Prologis by 9.0% during the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock valued at $10,129,000 after acquiring an additional 7,518 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Prologis during the second quarter valued at approximately $875,000. Zurich Insurance Group Ltd FI acquired a new stake in Prologis in the first quarter valued at approximately $21,792,000. Finally, Coordinated Financial Services Inc. purchased a new position in Prologis in the second quarter worth $389,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction 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 sale, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,621 shares of company stock worth $198,655 in the last three months. Insiders own 0.57% of the company’s stock.

Prologis Trading Up 0.3%

Shares of NYSE:PLD opened at $127.58 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $131.70. The stock has a market cap of $118.50 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 3.91 and a beta of 1.39. The business has a 50-day moving average price of $125.99 and a 200-day moving average price of $115.56.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 dividend on an annualized basis and a yield of 3.2%. Prologis’s payout ratio is currently 117.78%.

Analyst Upgrades and Downgrades

PLD has been the subject of several analyst reports. UBS Group set a $138.00 price objective on Prologis in a report on Thursday, December 4th. Weiss Ratings raised Prologis from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 15th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research note on Monday, October 20th. Barclays decreased their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Finally, Truist Financial reissued a “buy” rating and set a $131.00 target price (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.88.

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.