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Prologis, Inc. (NYSE:PLD) Shares Bought by Scotia Capital Inc.

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Key Points

  • Scotia Capital Inc. increased its holdings in Prologis, Inc. by 27.8% during the first quarter, owning 622,175 shares valued at approximately $69.55 million.
  • Prologis reported $1.46 earnings per share for the last quarter, surpassing the consensus estimate by $0.05, and showed an 8.8% increase in quarterly revenue year-over-year.
  • The company declared a quarterly dividend of $1.01, resulting in an annualized dividend yield of 3.9% with a payout ratio of 109.49%
  • Interested in Prologis? Here are five stocks we like better.

Scotia Capital Inc. boosted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 27.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 622,175 shares of the real estate investment trust's stock after buying an additional 135,483 shares during the period. Scotia Capital Inc. owned approximately 0.07% of Prologis worth $69,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Cheviot Value Management LLC acquired a new position in Prologis during the 1st quarter valued at about $169,000. Liberty Wealth Management LLC increased its position in Prologis by 233.5% during the 1st quarter. Liberty Wealth Management LLC now owns 6,589 shares of the real estate investment trust's stock valued at $737,000 after buying an additional 4,613 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its position in Prologis by 11.1% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 17,520 shares of the real estate investment trust's stock valued at $1,959,000 after buying an additional 1,746 shares in the last quarter. Pathway Financial Advisers LLC increased its position in Prologis by 1,740.4% during the 1st quarter. Pathway Financial Advisers LLC now owns 13,288 shares of the real estate investment trust's stock valued at $1,485,000 after buying an additional 12,566 shares in the last quarter. Finally, Banco Santander S.A. increased its position in Prologis by 12.0% during the 1st quarter. Banco Santander S.A. now owns 5,245 shares of the real estate investment trust's stock valued at $586,000 after buying an additional 562 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

NYSE PLD opened at $104.92 on Friday. The company has a market cap of $97.37 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21. The stock's 50 day simple moving average is $107.57 and its 200-day simple moving average is $109.82. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.41.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 earnings per share. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is currently 109.49%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PLD. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Barclays cut their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Royal Bank Of Canada cut their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. UBS Group raised their target price on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley dropped their target price on Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $120.74.

Check Out Our Latest Research Report on PLD

Prologis Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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