New Century Financial Group LLC Has $548,000 Position in Prologis, Inc. (NYSE:PLD)

New Century Financial Group LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 3.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,338 shares of the real estate investment trust’s stock after acquiring an additional 138 shares during the period. New Century Financial Group LLC’s holdings in Prologis were worth $548,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. American Capital Advisory LLC acquired a new position in shares of Prologis in the second quarter valued at about $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the second quarter valued at about $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the second quarter valued at about $29,000. Sunbelt Securities Inc. lifted 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 worth $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new stake in Prologis during the second quarter worth about $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the subject of several recent analyst reports. Barclays cut their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Scotiabank upped their price objective 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. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Wells Fargo & Company upped their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $132.71.

Prologis Stock Down 0.2 %

Shares of NYSE PLD opened at $122.50 on Monday. The company has a 50 day simple moving average of $125.43 and a 200 day simple moving average of $117.60. The firm has a market cap of $113.42 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. 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 data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 EPS. On average, research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred 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 completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

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.