Embree Financial Group Makes New Investment in Prologis, Inc. (NYSE:PLD)

Embree Financial Group purchased a new position in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,726 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Several other hedge funds also recently bought and sold shares of PLD. American Capital Advisory LLC purchased a new position in Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis in the second quarter valued at $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis in the second quarter valued at $29,000. Sunbelt Securities Inc. grew its position in shares of 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 purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Prologis in the second quarter valued at $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.2 %

Shares of PLD opened at $122.50 on Friday. The stock’s 50-day moving average is $125.43 and its two-hundred day moving average is $117.66. The stock has a market cap of $113.42 billion, a PE ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $1.30 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PLD shares. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Argus lifted their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays reduced their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Morgan Stanley lifted their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.71.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction 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.

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.