Wedmont Private Capital Buys 710 Shares of Prologis, Inc. (NYSE:PLD)

Wedmont Private Capital raised its stake in Prologis, Inc. (NYSE:PLD) by 14.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,569 shares of the real estate investment trust’s stock after buying an additional 710 shares during the period. Wedmont Private Capital’s holdings in Prologis were worth $668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Public Employees Retirement System of Ohio lifted its stake in shares of Prologis by 0.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,802,976 shares of the real estate investment trust’s stock valued at $240,337,000 after purchasing an additional 4,628 shares during the period. Secured Retirement Advisors LLC acquired a new position in shares of Prologis in the 4th quarter valued at about $957,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Prologis by 4.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,832,324 shares of the real estate investment trust’s stock valued at $777,449,000 after purchasing an additional 274,556 shares during the period. Quarry LP raised its stake in Prologis by 38.6% during the 4th quarter. Quarry LP now owns 571 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 159 shares during the period. Finally, GLOBALT Investments LLC GA acquired a new position in Prologis during the 4th quarter worth approximately $1,042,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

Shares of NYSE PLD opened at $120.21 on Friday. The stock has a fifty day simple moving average of $125.23 and a two-hundred day simple moving average of $117.91. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm has a market cap of $111.30 billion, a price-to-earnings ratio of 39.67, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company posted $1.83 earnings per share. Prologis’s revenue for the quarter was down 18.1% on a year-over-year basis. Analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.19%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 126.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Morgan Stanley upped their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Barclays lowered their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.71.

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.