Parcion Private Wealth LLC Acquires 125 Shares of Prologis, Inc. (NYSE:PLD)

Parcion Private Wealth LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,361 shares of the real estate investment trust’s stock after purchasing an additional 125 shares during the quarter. Parcion Private Wealth LLC’s holdings in Prologis were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after buying an additional 365,904 shares during the last quarter. Principal Financial Group Inc. grew its stake in Prologis by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after buying an additional 123,902 shares during the last quarter. Finally, Norges Bank acquired a new position in Prologis in the 4th quarter valued at $1,074,648,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock traded down $0.18 during trading on Friday, hitting $127.23. 2,484,242 shares of the stock traded hands, compared to its average volume of 3,616,621. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a market cap of $117.80 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 3.28 and a beta of 1.07. The company has a 50 day simple moving average of $122.67 and a 200 day simple moving average of $119.03. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) 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 firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business earned $1.83 earnings per share. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. Equities analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PLD. BMO Capital Markets restated a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Barclays raised their price target on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Mizuho decreased their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. The Goldman Sachs Group raised their price target on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $133.12.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value 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 $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

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.