CWA Asset Management Group LLC Makes New $11.38 Million Investment in Prologis, Inc. (NYSE:PLD)

CWA Asset Management Group LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 90,143 shares of the real estate investment trust's stock, valued at approximately $11,383,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Swedbank AB grew its holdings in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust's stock valued at $561,805,000 after purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock worth $18,305,000 after buying an additional 43,235 shares in the last quarter. US Bancorp DE increased its holdings in shares of Prologis by 6.5% in the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust's stock worth $88,148,000 after buying an additional 41,469 shares during the last quarter. Sunflower Bank N.A. purchased a new stake in shares of Prologis during the 3rd quarter valued at about $249,000. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust's stock valued at $890,728,000 after acquiring an additional 367,565 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related 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 $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLD has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. BMO Capital Markets reissued a "market perform" rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Bank of America reiterated a "neutral" rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Wells Fargo & Company boosted their target price on Prologis from $142.00 to $146.00 and gave the company an "overweight" rating in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $131.12.

Prologis Stock Up 1.4 %

Shares of NYSE:PLD traded up $1.62 during trading hours on Friday, hitting $115.83. The company's stock had a trading volume of 3,250,928 shares, compared to its average volume of 3,856,753. The firm's fifty day moving average price is $122.69 and its 200 day moving average price is $117.58. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a market capitalization of $107.28 billion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 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 return on equity of 5.34% and a net margin of 39.08%. During the same period last year, the firm earned $1.30 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.32%. 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.