NBC Securities Inc. Buys 309 Shares of Prologis, Inc. (NYSE:PLD)

NBC Securities Inc. grew its position in Prologis, Inc. (NYSE:PLD) by 20.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,848 shares of the real estate investment trust’s stock after purchasing an additional 309 shares during the quarter. NBC Securities Inc.’s holdings in Prologis were worth $233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PLD. Creative Planning lifted its position in Prologis by 18.3% during the 3rd quarter. Creative Planning now owns 100,154 shares of the real estate investment trust’s stock worth $12,647,000 after acquiring an additional 15,510 shares during the last quarter. CX Institutional lifted its position in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the last quarter. Harrington Investments INC boosted its stake in Prologis by 1.9% during the 3rd quarter. Harrington Investments INC now owns 15,367 shares of the real estate investment trust’s stock valued at $1,941,000 after purchasing an additional 290 shares during the period. Sivia Capital Partners LLC acquired a new stake in Prologis in the 3rd quarter valued at approximately $237,000. Finally, Grove Bank & Trust increased its position in Prologis by 10.0% in the 3rd quarter. Grove Bank & Trust now owns 1,166 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 106 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of Prologis stock opened at $122.50 on Friday. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm’s 50-day moving average price is $125.43 and its two-hundred day moving average price is $117.72. 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 capitalization of $113.42 billion, a price-to-earnings ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. On average, equities analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid 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 3.13%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLD. Evercore ISI raised their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Morgan Stanley boosted their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Scotiabank increased their target price on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, 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. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $132.71.

Insider Buying and Selling 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 value of $671,164.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

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.