Prime Capital Investment Advisors LLC Has $2.36 Million Holdings in Prologis, Inc. (NYSE:PLD)

Prime Capital Investment Advisors LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 83.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,712 shares of the real estate investment trust's stock after purchasing an additional 8,502 shares during the period. Prime Capital Investment Advisors LLC's holdings in Prologis were worth $2,363,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PLD. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the 2nd quarter valued at $27,000. American Capital Advisory LLC acquired a new position in shares of Prologis during the 2nd quarter valued at $26,000. Central Valley Advisors LLC acquired a new position in shares of Prologis during the 2nd quarter valued at $29,000. Sunbelt Securities Inc. lifted its holdings in shares of Prologis by 640.0% during the 2nd 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 in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter valued at $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 1.5 %

Shares of PLD traded down $1.78 during mid-day trading on Thursday, hitting $114.79. 3,055,758 shares of the company's stock were exchanged, compared to its average volume of 3,645,989. The firm has a fifty day moving average of $121.87 and a two-hundred day moving average of $117.90. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The stock has a market cap of $106.32 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.96 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD - Get Free Report) 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 firm had revenue of $1.90 billion for 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%. Prologis's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. On average, sell-side analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, September 16th. Prologis's dividend payout ratio is 116.01%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLD. The Goldman Sachs Group reiterated a "neutral" rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Bank of America reissued a "neutral" rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Truist Financial boosted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Finally, Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.12.

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 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 in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

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.