Cadence Bank Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Cadence Bank grew its position in Prologis, Inc. (NYSE:PLD) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,073 shares of the real estate investment trust’s stock after buying an additional 234 shares during the period. Cadence Bank’s holdings in Prologis were worth $514,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. American Capital Advisory LLC purchased a new stake in shares of Prologis in the 2nd quarter valued at approximately $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis in the 2nd quarter valued at approximately $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis in the 2nd quarter valued at approximately $29,000. Sunbelt Securities Inc. grew its stake in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $117.81 on Thursday. The stock has a market cap of $109.11 billion, a P/E ratio of 35.59, a P/E/G ratio of 3.45 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The stock has a 50 day moving average of $119.09 and a two-hundred day moving average of $118.61. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. On average, research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PLD shares. Truist Financial increased their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank decreased their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. JPMorgan Chase & Co. reduced their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.25.

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.