Beverly Hills Private Wealth LLC Has $1.84 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Beverly Hills Private Wealth LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 4.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,374 shares of the real estate investment trust’s stock after selling 824 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Prologis were worth $1,839,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PLD. Nordea Investment Management AB raised its stake in Prologis by 380.0% during the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB raised its holdings in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after acquiring an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Atalanta Sosnoff Capital LLC acquired a new stake in shares of Prologis during the 4th quarter worth approximately $18,551,000. Finally, US Bancorp DE increased its position in shares of Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after purchasing an additional 41,469 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Prologis stock opened at $130.69 on Thursday. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company’s 50-day moving average is $123.77 and its two-hundred day moving average is $118.88. 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 company has a market cap of $121.00 billion, a PE ratio of 38.21, a PEG ratio of 3.27 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. Equities analysts anticipate 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 will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 2.94%. Prologis’s payout ratio is 112.28%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLD. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Scotiabank increased their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Morgan Stanley upped 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. Seven 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.12.

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.