Prologis, Inc. (NYSE:PLD) Shares Acquired by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,653 shares of the real estate investment trust’s stock after buying an additional 620 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Prologis were worth $1,345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. American Capital Advisory LLC bought a new position in Prologis during the second quarter valued at about $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the 2nd quarter worth about $27,000. Central Valley Advisors LLC purchased a new stake in Prologis in the 2nd quarter worth about $29,000. Sunbelt Securities Inc. increased its position in Prologis by 640.0% in 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. acquired a new position in Prologis in the 2nd quarter worth about $31,000. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PLD shares. Bank of America reaffirmed a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Argus increased their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays lowered 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. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Finally, Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

Prologis Stock Up 0.9 %

Shares of PLD traded up $1.07 on Wednesday, hitting $120.01. The company’s stock had a trading volume of 802,455 shares, compared to its average volume of 3,628,863. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average price is $125.31 and its 200-day moving average price is $117.51. The firm has a market capitalization of $111.11 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings data 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 net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company posted $1.30 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed 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. This represents a $3.84 annualized dividend and a yield of 3.20%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 112.28%.

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.