Prologis, Inc. (NYSE:PLD) Stake Boosted by Cwm LLC

Cwm LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 6.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 20,255 shares of the real estate investment trust’s stock after buying an additional 1,257 shares during the period. Cwm LLC’s holdings in Prologis were worth $2,558,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Optimum Investment Advisors acquired a new position in Prologis during the first quarter valued at $26,000. American Capital Advisory LLC acquired a new position in shares of Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis in the second quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis during the second quarter worth approximately $29,000. Finally, Sunbelt Securities Inc. grew its position in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PLD shares. Scotiabank increased their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $132.71.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Trading Up 0.3 %

Shares of NYSE:PLD opened at $120.56 on Tuesday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $111.62 billion, a P/E ratio of 35.25, a P/E/G ratio of 3.05 and a beta of 1.07. The stock’s 50-day moving average is $125.26 and its 200-day moving average is $117.72.

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 the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The business’s quarterly revenue was down 18.1% on a year-over-year basis. Equities research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

About Prologis

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.