B. Riley Wealth Advisors Inc. Trims Stake in Prologis, Inc. (NYSE:PLD)

B. Riley Wealth Advisors Inc. lowered its position in Prologis, Inc. (NYSE:PLD) by 31.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,330 shares of the real estate investment trust’s stock after selling 6,462 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Prologis were worth $1,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Arbor Capital Management Inc. ADV boosted its holdings in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after buying an additional 87 shares in the last quarter. Mitchell Sinkler & Starr PA grew its holdings in Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares during the period. Destination Wealth Management grew its holdings in Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 92 shares during the period. CVA Family Office LLC increased its stake in shares of Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 94 shares in the last quarter. Finally, Tiemann Investment Advisors LLC boosted its position in shares of Prologis by 2.4% in the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of a number of analyst reports. Evercore ISI raised their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Argus raised their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Scotiabank upped their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Morgan Stanley lifted their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.35.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction 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 completion of the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Prologis Trading Down 0.3 %

NYSE:PLD opened at $124.18 on Thursday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The business has a fifty day moving average price of $125.82 and a 200-day moving average price of $118.24. The firm has a market capitalization of $114.97 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last issued its quarterly 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 company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company earned $1.83 EPS. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. Sell-side analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed 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 was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.09%. Prologis’s payout ratio is 112.28%.

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.