Tyche Wealth Partners LLC Grows Holdings in Prologis, Inc. (NYSE:PLD)

Tyche Wealth Partners LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 7.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,110 shares of the real estate investment trust’s stock after purchasing an additional 141 shares during the period. Tyche Wealth Partners LLC’s holdings in Prologis were worth $266,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. American Capital Advisory LLC purchased a new position in shares of Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in Prologis in the 2nd quarter valued at about $27,000. Central Valley Advisors LLC acquired a new position in Prologis in the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. increased its stake in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’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 transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

Prologis Stock Down 2.1 %

Prologis stock opened at $115.32 on Wednesday. The company has a market capitalization of $106.78 billion, a P/E ratio of 34.84, a PEG ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a fifty-two week low of $96.96 and a fifty-two week high of $137.52. The stock has a 50-day simple moving average of $124.75 and a 200-day simple moving average of $117.37.

Prologis (NYSE:PLD) 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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. Equities research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.33%. Prologis’s payout ratio is 116.01%.

Analyst Upgrades and Downgrades

PLD has been the topic of several recent research reports. Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company increased their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

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.