Apollon Wealth Management LLC Acquires 157 Shares of Prologis, Inc. (NYSE:PLD)

Apollon Wealth Management LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 17,772 shares of the real estate investment trust’s stock after purchasing an additional 157 shares during the period. Apollon Wealth Management LLC’s holdings in Prologis were worth $2,244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLD. Venturi Wealth Management LLC increased its stake in Prologis by 7.7% in the third quarter. Venturi Wealth Management LLC now owns 9,973 shares of the real estate investment trust’s stock valued at $1,259,000 after purchasing an additional 710 shares in the last quarter. Cottonwood Capital Advisors LLC bought a new stake in Prologis in the 3rd quarter valued at about $217,000. Catalytic Wealth RIA LLC raised its stake in Prologis by 59.4% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 17,032 shares of the real estate investment trust’s stock worth $2,151,000 after buying an additional 6,345 shares during the period. Chartwell Investment Partners LLC boosted its holdings in Prologis by 10.0% in the third quarter. Chartwell Investment Partners LLC now owns 49,492 shares of the real estate investment trust’s stock worth $6,250,000 after acquiring an additional 4,482 shares in the last quarter. Finally, Kennebec Savings Bank acquired a new stake in Prologis in the third quarter valued at approximately $633,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PLD shares. Wells Fargo & Company upped their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. dropped their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Stock Performance

NYSE:PLD opened at $116.56 on Thursday. The company has a market capitalization of $107.95 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.96 and a beta of 1.08. The business has a fifty day simple moving average of $122.11 and a two-hundred day simple moving average of $117.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last announced 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 analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.30 EPS. On average, analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current 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 dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at $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 SEC, which is available at this link. 0.50% of the stock is owned by insiders.

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.