Ashton Thomas Private Wealth LLC Buys 157 Shares of Prologis, Inc. (NYSE:PLD)

Ashton Thomas Private Wealth LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,390 shares of the real estate investment trust’s stock after purchasing an additional 157 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Prologis were worth $2,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. First National Trust Co grew its stake in shares of Prologis by 1.5% during the third quarter. First National Trust Co now owns 41,728 shares of the real estate investment trust’s stock valued at $5,269,000 after buying an additional 629 shares during the last quarter. Waverton Investment Management Ltd grew its position in shares of Prologis by 9.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 315,976 shares of the real estate investment trust’s stock valued at $39,903,000 after acquiring an additional 27,545 shares during the period. Harbour Investments Inc. grew its position in shares of Prologis by 13.2% during the 3rd quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust’s stock valued at $393,000 after acquiring an additional 364 shares during the period. Apollon Wealth Management LLC boosted its holdings in Prologis by 0.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 17,772 shares of the real estate investment trust’s stock worth $2,244,000 after buying an additional 157 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Prologis by 7.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 9,973 shares of the real estate investment trust’s stock worth $1,259,000 after purchasing an additional 710 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Down 1.2 %

NYSE PLD opened at $112.75 on Wednesday. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a 50-day simple moving average of $122.42 and a 200-day simple moving average of $117.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $104.43 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 3.04 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm 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 company’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. On average, equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.41%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PLD shares. Bank of America reissued a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Argus upped their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Finally, Scotiabank lowered their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.12.

About Prologis

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.