Strategic Wealth Partners Ltd. Has $8.53 Million Position in Prologis, Inc. (NYSE:PLD)

Strategic Wealth Partners Ltd. lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 5.1% in the third quarter, HoldingsChannel reports. The fund owned 67,512 shares of the real estate investment trust’s stock after buying an additional 3,248 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Prologis were worth $8,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Optimum Investment Advisors bought a new stake in shares of Prologis during the first quarter worth $26,000. American Capital Advisory LLC bought a new stake in shares of Prologis during the second quarter worth $26,000. True Wealth Design LLC bought a new stake in shares of Prologis during the fourth quarter worth $27,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the second quarter worth $27,000. Finally, Central Valley Advisors LLC bought a new stake in shares of Prologis during the second quarter worth $29,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Prologis Stock Down 0.6 %

Shares of Prologis stock opened at $119.32 on Wednesday. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The business has a 50-day moving average of $125.77 and a two-hundred day moving average of $118.02. The company has a market capitalization of $110.47 billion, a P/E ratio of 34.89, 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 posted 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). The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 earnings per share. As a group, equities analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

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 of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. Prologis’s dividend payout ratio is currently 112.28%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America reiterated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.35.

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.