L & S Advisors Inc Buys 1,365 Shares of Prologis, Inc. (NYSE:PLD)

L & S Advisors Inc lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 7.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,605 shares of the real estate investment trust’s stock after acquiring an additional 1,365 shares during the quarter. L & S Advisors Inc’s holdings in Prologis were worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Optimum Investment Advisors acquired a new position in Prologis in the first quarter valued at $26,000. American Capital Advisory LLC acquired a new stake in Prologis during the second quarter worth approximately $26,000. True Wealth Design LLC bought a new stake in Prologis in the fourth quarter worth approximately $27,000. Central Valley Advisors LLC bought a new stake in shares of Prologis in the 2nd quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter valued at $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Down 0.6 %

Shares of NYSE PLD opened at $129.25 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $124.72 and a 200-day moving average of $118.72. The firm has a market capitalization of $119.67 billion, a price-to-earnings ratio of 37.79, a PEG ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.96 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 2.97%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’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 value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PLD shares. Scotiabank increased their target price on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Truist Financial raised their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Morgan Stanley lifted their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Mizuho lowered their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.35.

Prologis Company 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.