Prudent Man Advisors LLC Boosts Stake in Prologis, Inc. (NYSE:PLD)

Prudent Man Advisors LLC grew its position in Prologis, Inc. (NYSE:PLD) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,674 shares of the real estate investment trust’s stock after acquiring an additional 651 shares during the period. Prologis comprises 0.9% of Prudent Man Advisors LLC’s portfolio, making the stock its 18th largest holding. Prudent Man Advisors LLC’s holdings in Prologis were worth $2,611,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the 2nd quarter valued at about $27,000. American Capital Advisory LLC purchased a new position in shares of Prologis in the second quarter valued at $26,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis during the second quarter valued at about $29,000. Sunbelt Securities Inc. increased its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis in the second quarter worth $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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 completion of the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Scotiabank lowered their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Evercore ISI upped their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Price Performance

Shares of NYSE PLD opened at $113.42 on Monday. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market cap of $105.05 billion, a P/E ratio of 34.27, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The business’s 50 day moving average is $121.34 and its 200-day moving average is $118.16.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

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.