Brighton Jones LLC Purchases 298 Shares of Prologis, Inc. (NYSE:PLD)

Brighton Jones LLC raised its position in Prologis, Inc. (NYSE:PLD) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,635 shares of the real estate investment trust’s stock after buying an additional 298 shares during the quarter. Brighton Jones LLC’s holdings in Prologis were worth $1,644,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PLD. Gilbert & Cook Inc. raised its stake in shares of Prologis by 4.4% in the fourth quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock valued at $731,000 after buying an additional 233 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Prologis by 61.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock worth $692,000 after purchasing an additional 1,995 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in Prologis by 18.0% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,228 shares of the real estate investment trust’s stock worth $297,000 after purchasing an additional 340 shares during the period. King Luther Capital Management Corp increased its position in shares of Prologis by 34.1% during the fourth quarter. King Luther Capital Management Corp now owns 8,655 shares of the real estate investment trust’s stock valued at $1,154,000 after buying an additional 2,203 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Prologis by 18.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 93,512 shares of the real estate investment trust’s stock worth $12,465,000 after buying an additional 14,603 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLD has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Wells Fargo & Company upped their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $133.35.

Insider Activity at Prologis

In related 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 transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Prologis Trading Down 2.4 %

PLD stock opened at $125.47 on Friday. The company has a market capitalization of $116.17 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company’s 50 day moving average price is $125.48 and its two-hundred day moving average price is $118.74.

Prologis (NYSE:PLD) last released its 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). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business 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 posted $1.83 EPS. Prologis’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced 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. This represents a $3.84 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Prologis Company 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.