NewEdge Advisors LLC Raises Stake in Prologis, Inc. (NYSE:PLD)

NewEdge Advisors LLC lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 16.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the real estate investment trust’s stock after buying an additional 10,687 shares during the quarter. NewEdge Advisors LLC’s holdings in Prologis were worth $8,423,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PLD. Optimum Investment Advisors purchased a new stake in shares of Prologis during the first quarter worth about $26,000. American Capital Advisory LLC purchased a new stake in shares of Prologis during the second quarter worth about $26,000. True Wealth Design LLC purchased a new stake in shares of Prologis during the fourth quarter worth about $27,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the second quarter worth approximately $27,000. Finally, Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter worth approximately $29,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Up 0.5 %

NYSE PLD opened at $126.28 on Tuesday. The company’s fifty day simple moving average is $125.82 and its 200-day simple moving average is $118.23. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $116.92 billion, a P/E ratio of 36.92, a PEG ratio of 3.25 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. Equities research analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.04%. Prologis’s payout ratio is currently 112.28%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PLD. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. The Goldman Sachs Group raised their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.35.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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 directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis 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.