Prologis, Inc. (NYSE:PLD) Stock Holdings Increased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,471 shares of the real estate investment trust’s stock after buying an additional 2,569 shares during the period. Ritholtz Wealth Management’s holdings in Prologis were worth $5,742,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Arbor Capital Management Inc. ADV grew its holdings in shares of Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 87 shares during the last quarter. Mitchell Sinkler & Starr PA raised its holdings in Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares during the period. Destination Wealth Management raised its holdings in Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 92 shares during the period. CVA Family Office LLC lifted its stake in Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 94 shares in the last quarter. Finally, Tiemann Investment Advisors LLC boosted its holdings in shares of Prologis by 2.4% in the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BMO Capital Markets restated a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group upped their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Truist Financial raised their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Argus upped their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.71.

Prologis Stock Up 1.7 %

Shares of PLD traded up $1.96 during trading hours on Friday, hitting $120.24. 2,711,999 shares of the company were exchanged, compared to its average volume of 3,623,040. The firm’s 50 day moving average is $125.23 and its 200-day moving average is $117.91. 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 52 week low of $96.64 and a 52 week high of $137.52. The company has a market cap of $111.33 billion, a PE ratio of 39.67, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned $1.83 EPS. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, equities research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.19%. Prologis’s payout ratio is 126.73%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the 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 approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.