1,898 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,898 shares of the real estate investment trust’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Principal Financial Group Inc. raised its stake in Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after acquiring an additional 167,131 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after acquiring an additional 367,565 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Prologis by 16.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock valued at $767,398,000 after purchasing an additional 958,914 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were 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 $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PLD shares. Evercore ISI upped their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. JPMorgan Chase & Co. cut their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Scotiabank lowered their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Price Performance

Shares of NYSE PLD opened at $114.22 on Friday. The company has a market capitalization of $105.79 billion, a PE ratio of 34.51, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The firm has a fifty day simple moving average of $123.15 and a 200 day simple moving average of $117.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business posted $1.30 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.