Tyler Stone Wealth Management Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Tyler Stone Wealth Management grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 158.7% during the third quarter, HoldingsChannel.com reports. The fund owned 2,191 shares of the real estate investment trust’s stock after buying an additional 1,344 shares during the quarter. Tyler Stone Wealth Management’s holdings in Prologis were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Swedbank AB grew its position in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Sunflower Bank N.A. purchased a new stake in Prologis during the third quarter valued at $249,000. Centersquare Investment Management LLC lifted its holdings in Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after acquiring an additional 367,565 shares during the period. Finally, Cetera Advisors LLC lifted its holdings in Prologis by 118.7% in the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after acquiring an additional 20,623 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 1.5 %

Shares of PLD stock opened at $114.10 on Tuesday. The company’s fifty day simple moving average is $122.69 and its two-hundred day simple moving average is $117.77. 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 $105.68 billion, a P/E ratio of 34.47, a PEG ratio of 3.04 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. 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. Analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Wells Fargo & Company increased their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Bank of America reaffirmed a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Finally, 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. Eight equities research 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

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.