Keudell Morrison Wealth Management Buys Shares of 2,833 Prologis, Inc. (NYSE:PLD)

Keudell Morrison Wealth Management purchased a new position in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,833 shares of the real estate investment trust’s stock, valued at approximately $358,000.

Several other institutional investors and hedge funds have also made changes to their positions in PLD. Vanguard Group Inc. raised its position in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after purchasing an additional 317,815 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after buying an additional 167,131 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in Prologis by 5.7% during the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after buying an additional 367,565 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Prologis by 16.3% during the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock worth $767,398,000 after buying an additional 958,914 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLD. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Truist Financial boosted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Argus upped their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Trading Up 0.5 %

NYSE:PLD traded up $0.57 on Thursday, hitting $114.31. 251,955 shares of the stock were exchanged, compared to its average volume of 3,637,248. The stock has a fifty day moving average of $123.15 and a 200-day moving average of $117.52. The stock has a market cap of $105.87 billion, a PE ratio of 34.36, a PEG ratio of 2.97 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings results 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 return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm posted $1.30 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal 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 given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

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.