Greystone Financial Group LLC Makes New Investment in Prologis, Inc. (NYSE:PLD)

Greystone Financial Group LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 57,823 shares of the real estate investment trust's stock, valued at approximately $6,494,000.

Several other large investors also recently modified their holdings of the business. Destination Wealth Management raised its position in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust's stock worth $228,000 after purchasing an additional 92 shares during the period. CVA Family Office LLC raised its holdings in Prologis by 21.4% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust's stock worth $70,000 after buying an additional 94 shares during the period. Tiemann Investment Advisors LLC lifted its stake in Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust's stock valued at $549,000 after buying an additional 100 shares in the last quarter. M&G Plc boosted its holdings in shares of Prologis by 3.4% in the second quarter. M&G Plc now owns 3,010 shares of the real estate investment trust's stock worth $337,000 after buying an additional 100 shares during the period. Finally, Conning Inc. boosted its holdings in shares of Prologis by 1.0% in the second quarter. Conning Inc. now owns 10,525 shares of the real estate investment trust's stock worth $1,182,000 after buying an additional 100 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company's stock, valued at $1,702,046.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

Prologis Stock Down 0.1 %

NYSE:PLD traded down $0.18 during trading hours on Friday, reaching $127.23. The company's stock had a trading volume of 2,484,242 shares, compared to its average volume of 3,616,621. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The business's 50-day moving average is $122.67 and its 200-day moving average is $118.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $117.80 billion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 3.28 and a beta of 1.07.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $1.83 EPS. The business's revenue was down 18.1% on a year-over-year basis. Equities research analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Monday, September 16th. Prologis's dividend payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

PLD has been the subject of several research analyst reports. Mizuho reduced their price target on shares of Prologis from $130.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, May 31st. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Evercore ISI upped their price target on Prologis from $122.00 to $124.00 and gave the company an "in-line" rating in a research report on Wednesday, August 28th. The Goldman Sachs Group raised their price objective on Prologis from $140.00 to $156.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Finally, Argus upped their target price on Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $133.12.

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.