CWA Asset Management Group LLC Buys Shares of 90,143 Prologis, Inc. (NYSE:PLD)

CWA Asset Management Group LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 90,143 shares of the real estate investment trust’s stock, valued at approximately $11,383,000.

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

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’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 $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

Prologis Price Performance

NYSE:PLD opened at $115.83 on Friday. The firm’s fifty day moving average is $122.69 and its two-hundred day moving average is $117.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The firm has a market cap of $107.28 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.98 and a beta of 1.08.

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

Prologis Announces Dividend

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 dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Truist Financial boosted their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wells Fargo & Company boosted their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, Argus upped their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $131.12.

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.