Prologis, Inc. (NYSE:PLD) Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,518 shares of the real estate investment trust’s stock after purchasing an additional 345 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Prologis were worth $571,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the 2nd quarter valued at approximately $27,000. American Capital Advisory LLC acquired a new position in Prologis during the second quarter worth $26,000. Central Valley Advisors LLC purchased a new position in Prologis in the second quarter worth $29,000. Sunbelt Securities Inc. lifted its holdings in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis in the second quarter valued at $31,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Argus upped their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Finally, Barclays lowered their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Down 2.1 %

Shares of NYSE PLD opened at $115.32 on Wednesday. The firm has a market cap of $106.78 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 1 year low of $96.96 and a 1 year high of $137.52. The firm’s 50 day moving average price is $124.75 and its 200 day moving average price is $117.37.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.33%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.