Wealth Alliance Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Wealth Alliance increased its position in Prologis, Inc. (NYSE:PLD) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,888 shares of the real estate investment trust’s stock after purchasing an additional 541 shares during the quarter. Wealth Alliance’s holdings in Prologis were worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. boosted its stake in Prologis by 4.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock valued at $731,000 after acquiring an additional 233 shares during the last quarter. Gryphon Financial Partners LLC boosted its stake in Prologis by 61.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock valued at $692,000 after acquiring an additional 1,995 shares during the last quarter. TrinityPoint Wealth LLC boosted its stake in Prologis by 18.0% during the 4th quarter. TrinityPoint Wealth LLC now owns 2,228 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 340 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in Prologis by 17.3% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,832 shares of the real estate investment trust’s stock valued at $511,000 after acquiring an additional 565 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Prologis by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 636,496 shares of the real estate investment trust’s stock valued at $84,845,000 after acquiring an additional 22,554 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of a number of research analyst reports. Argus increased their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Mizuho dropped their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Stock Performance

NYSE:PLD opened at $128.91 on Wednesday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $125.00 and a 200-day moving average of $118.68. The firm has a market cap of $119.35 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $1.83 EPS. The business’s revenue for the quarter was down 18.1% on a year-over-year basis. Analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 2.98%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Prologis 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.