Graybill Wealth Management LTD. Grows Position in Prologis, Inc. (NYSE:PLD)

Graybill Wealth Management LTD. increased its position in Prologis, Inc. (NYSE:PLD) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,780 shares of the real estate investment trust’s stock after purchasing an additional 259 shares during the period. Graybill Wealth Management LTD.’s holdings in Prologis were worth $4,013,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PLD. Arbor Capital Management Inc. ADV raised its stake in Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after buying an additional 87 shares during the last quarter. CX Institutional raised its position in shares of Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its stake in Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares in the last quarter. Destination Wealth Management grew its position in Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares during the last quarter. Finally, Tiemann Investment Advisors LLC grew its position in Prologis by 2.4% during the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

PLD traded up $0.71 during trading hours on Tuesday, hitting $118.48. The company’s stock had a trading volume of 372,138 shares, compared to its average volume of 3,628,001. The business’s 50-day moving average price is $125.39 and its 200-day moving average price is $117.56. Prologis, Inc. has a 12 month low of $96.64 and a 12 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 stock has a market cap of $109.69 billion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 3.05 and a beta of 1.07.

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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The company’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal 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 issued a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.24%. Prologis’s payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLD. Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI increased their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $131.47.

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.