Prosperity Consulting Group LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Prosperity Consulting Group LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 14.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,693 shares of the real estate investment trust’s stock after acquiring an additional 462 shares during the period. Prosperity Consulting Group LLC’s holdings in Prologis were worth $415,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in shares of Prologis by 14.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,836,048 shares of the real estate investment trust’s stock valued at $318,517,000 after purchasing an additional 362,671 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Prologis by 1.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 39,815 shares of the real estate investment trust’s stock valued at $4,472,000 after buying an additional 381 shares during the last quarter. Stolper Co boosted its holdings in shares of Prologis by 3.4% in the second quarter. Stolper Co now owns 15,223 shares of the real estate investment trust’s stock valued at $1,710,000 after acquiring an additional 505 shares during the period. Westover Capital Advisors LLC purchased a new position in shares of Prologis during the second quarter worth approximately $334,000. Finally, Fiduciary Group LLC increased its holdings in shares of Prologis by 7.5% in the 2nd quarter. Fiduciary Group LLC now owns 3,858 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of several research reports. Mizuho lowered their price objective 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 boosted their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company increased their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Scotiabank lifted their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Finally, Morgan Stanley lifted their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was 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 $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Prologis Stock Down 0.2 %

PLD opened at $129.98 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $124.42 and a 200-day simple moving average of $118.85. The stock has a market capitalization of $120.34 billion, a P/E ratio of 38.01, a P/E/G ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.83 earnings per share. On average, equities analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 2.95%. Prologis’s dividend payout ratio is presently 112.28%.

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.