Prospera Private Wealth LLC Buys New Position in Prologis, Inc. (NYSE:PLD)

Prospera Private Wealth LLC bought a new stake in Prologis, Inc. (NYSE:PLD) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,540 shares of the real estate investment trust’s stock, valued at approximately $700,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter worth approximately $27,000. American Capital Advisory LLC bought a new position in shares of Prologis during the 2nd quarter worth approximately $26,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its stake in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PLD shares. Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Morgan Stanley boosted their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday. Finally, Truist Financial boosted their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $131.18.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on 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 directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.56% of the stock is currently owned by insiders.

Prologis Stock Performance

Shares of PLD opened at $114.54 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average price is $120.36 and its 200-day moving average price is $118.27. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The stock has a market cap of $106.08 billion, a P/E ratio of 34.60, a P/E/G ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for 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%. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Equities research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

About Prologis

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.