Prospera Private Wealth LLC Invests $700,000 in Prologis, Inc. (NYSE:PLD)

Prospera Private Wealth LLC acquired a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,540 shares of the real estate investment trust's stock, valued at approximately $700,000.

Several other large investors have also made changes to their positions in PLD. Swedbank AB bought a new position in Prologis in the 1st quarter worth approximately $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis during the second quarter worth $203,223,000. AMF Tjanstepension AB raised its stake in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Federated Hermes Inc. raised its stake in Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock valued at $199,343,000 after purchasing an additional 1,358,542 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Prologis by 137.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust's stock valued at $208,518,000 after purchasing an additional 1,075,614 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PLD shares. Bank of America reaffirmed a "neutral" rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 28th. Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Scotiabank lowered their price target on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Friday, October 25th. Eight investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.18.

Prologis Stock Down 0.5 %

Shares of NYSE PLD opened at $114.54 on Thursday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a market cap of $106.08 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 3.03 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. The firm's 50-day simple moving average is $120.36 and its 200 day simple moving average is $118.27.

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 for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company 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%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. On average, research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

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