Prestige Wealth Management Group LLC Boosts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Prestige Wealth Management Group LLC boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 1,595.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,445 shares of the real estate investment trust's stock after buying an additional 11,711 shares during the period. Prestige Wealth Management Group LLC's holdings in Prologis were worth $1,572,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PLD. Sequoia Financial Advisors LLC boosted its holdings in Prologis by 6.5% during the second quarter. Sequoia Financial Advisors LLC now owns 10,401 shares of the real estate investment trust's stock worth $1,168,000 after purchasing an additional 638 shares during the last quarter. M&G Plc grew its stake in Prologis by 3.4% in the 2nd quarter. M&G Plc now owns 3,010 shares of the real estate investment trust's stock valued at $337,000 after purchasing an additional 100 shares during the period. NorthCrest Asset Manangement LLC increased its position in shares of Prologis by 1.0% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 32,026 shares of the real estate investment trust's stock valued at $3,597,000 after purchasing an additional 319 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of Prologis by 13.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,272 shares of the real estate investment trust's stock worth $1,940,000 after buying an additional 2,105 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. grew its position in Prologis by 10.7% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 2,575 shares of the real estate investment trust's stock valued at $289,000 after buying an additional 248 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PLD shares. Bank of America reissued a "neutral" rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. BMO Capital Markets lowered Prologis from a "market perform" rating to an "underperform" rating and decreased their price objective for the stock from $120.00 to $104.00 in a report on Friday. Barclays boosted their price target on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th. Finally, Truist Financial dropped their price objective on Prologis from $137.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $130.13.

Prologis Trading Down 1.4 %

NYSE:PLD traded down $1.64 during trading hours on Tuesday, reaching $113.78. The company's stock had a trading volume of 1,320,906 shares, compared to its average volume of 3,645,192. The firm has a market capitalization of $105.38 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 3.27 and a beta of 1.07. The firm has a 50-day simple moving average of $117.35 and a 200-day simple moving average of $119.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

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 the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company posted $1.30 earnings per share. The business's revenue was up 6.9% on a year-over-year basis. Research analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.96 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.37%. Prologis's payout ratio is 116.01%.

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.