Atlanta Consulting Group Advisors LLC Buys Shares of 5,488 Prologis, Inc. (NYSE:PLD)

Atlanta Consulting Group Advisors LLC bought a new stake in Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,488 shares of the real estate investment trust’s stock, valued at approximately $693,000.

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

Insider Activity

In other 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 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. This trade represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PLD. Scotiabank lowered their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Argus increased their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Down 1.2 %

PLD stock opened at $113.42 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $121.34 and a two-hundred day moving average price of $118.05. The company has a market cap of $105.05 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 3.06 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 earnings per share. Analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given 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 3.39%. Prologis’s payout ratio is 116.01%.

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.