CWA Asset Management Group LLC Makes New Investment in Prologis, Inc. (NYSE:PLD)

CWA Asset Management Group LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 90,143 shares of the real estate investment trust’s stock, valued at approximately $11,383,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 purchasing an additional 1,460,229 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after acquiring an additional 317,815 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after acquiring an additional 167,131 shares in the last quarter. Centersquare Investment Management LLC grew its stake in shares of Prologis by 5.7% during the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after purchasing an additional 367,565 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Prologis by 16.3% during the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock worth $767,398,000 after purchasing an additional 958,914 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.4 %

PLD stock opened at $115.83 on Friday. The company’s 50 day simple moving average is $122.69 and its 200-day simple moving average is $117.58. The firm has a market capitalization of $107.28 billion, a PE ratio of 34.99, a P/E/G ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

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). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.30 earnings per share. Equities analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Argus boosted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. reduced their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Eight investment 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 stock. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred 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 transaction, 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 filing with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

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.