16,263 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 16,263 shares of the real estate investment trust’s stock, valued at approximately $1,826,000.

A number of other large investors have also bought and sold shares of PLD. Gilbert & Cook Inc. grew its position in Prologis by 4.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock worth $731,000 after acquiring an additional 233 shares during the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Prologis by 61.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock valued at $692,000 after buying an additional 1,995 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of Prologis by 1.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,220 shares of the real estate investment trust’s stock worth $1,762,000 after acquiring an additional 145 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Prologis during the fourth quarter valued at $474,000. Finally, KBC Group NV boosted its holdings in Prologis by 7.5% in the fourth quarter. KBC Group NV now owns 444,377 shares of the real estate investment trust’s stock valued at $59,236,000 after acquiring an additional 30,905 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on PLD shares. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Argus lifted their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank lifted their price objective on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Barclays lifted their price objective on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company lifted 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. Seven 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.35.

Prologis Trading Up 0.3 %

NYSE:PLD opened at $125.59 on Monday. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. 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 stock has a market capitalization of $116.28 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. The business’s 50-day simple moving average is $125.83 and its 200-day simple moving average is $118.26.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share 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 quarter last year, the firm earned $1.83 EPS. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is 112.28%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

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.