Prospera Private Wealth LLC Makes New Investment in Prologis, Inc. (NYSE:PLD)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Capital Advisory LLC purchased a new stake in Prologis in the second quarter worth $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter worth $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the 2nd quarter worth $29,000. Sunbelt Securities Inc. grew its position 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 buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLD shares. Truist Financial raised their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. decreased their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Evercore ISI increased 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. Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Finally, Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.18.

Prologis Stock Performance

Shares of NYSE:PLD opened at $114.54 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The business’s 50 day moving average price is $120.36 and its 200-day moving average price is $118.27. The firm has a market capitalization of $106.08 billion, a PE ratio of 34.60, a P/E/G ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (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 analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 earnings per share. As a group, equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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 transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is currently owned by corporate 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.