Prologis, Inc. (NYSE:PLD) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. grew its position in Prologis, Inc. (NYSE:PLD) by 24.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,771 shares of the real estate investment trust’s stock after buying an additional 3,292 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Prologis were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Optimum Investment Advisors acquired a new position in Prologis in the 1st quarter valued at about $26,000. American Capital Advisory LLC acquired a new position in shares of Prologis in the second quarter valued at approximately $26,000. True Wealth Design LLC purchased a new stake in Prologis during the 4th quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new stake in Prologis during the 2nd quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

Prologis stock opened at $130.35 on Friday. The company has a market capitalization of $120.68 billion, a P/E ratio of 38.11, a PEG ratio of 3.27 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 $96.64 and a fifty-two week high of $137.52. The stock has a 50-day simple moving average of $124.11 and a 200-day simple moving average of $118.96.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley increased their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Scotiabank boosted their price objective on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Finally, Evercore ISI boosted their price target on shares of Prologis from $122.00 to $124.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’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 completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by insiders.

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.