EP Wealth Advisors LLC Raises Position in Prologis, Inc. (NYSE:PLD)

EP Wealth Advisors LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,926 shares of the real estate investment trust’s stock after acquiring an additional 582 shares during the period. EP Wealth Advisors LLC’s holdings in Prologis were worth $1,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLD. Campbell & CO Investment Adviser LLC purchased a new position in Prologis in the 4th quarter worth approximately $474,000. The Manufacturers Life Insurance Company increased its stake in shares of Prologis by 3.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 855,903 shares of the real estate investment trust’s stock worth $114,092,000 after buying an additional 28,340 shares during the period. Rafferty Asset Management LLC raised its holdings in Prologis by 20.1% during the 4th quarter. Rafferty Asset Management LLC now owns 123,931 shares of the real estate investment trust’s stock valued at $16,520,000 after buying an additional 20,724 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in Prologis during the 4th quarter valued at $966,000. Finally, Capital Research Global Investors grew its holdings in Prologis by 15.8% in the 4th quarter. Capital Research Global Investors now owns 5,296,833 shares of the real estate investment trust’s stock worth $706,068,000 after acquiring an additional 723,807 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

PLD stock opened at $124.63 on Wednesday. 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 firm has a market capitalization of $115.39 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 3.25 and a beta of 1.07. The firm has a 50 day moving average price of $125.80 and a 200-day moving average price of $118.20. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last released its 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 company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $1.83 earnings per share. The company’s revenue was down 18.1% compared to the same quarter last year. Equities research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred 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 transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLD. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Scotiabank increased their price objective on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Seven research 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. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Prologis 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.