20,000 Shares in Prologis, Inc. (NYSE:PLD) Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new stake in Prologis, Inc. (NYSE:PLD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 20,000 shares of the real estate investment trust’s stock, valued at approximately $2,246,000. Prologis makes up approximately 1.2% of New Age Alpha Advisors LLC’s portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Optimum Investment Advisors acquired a new stake in shares of Prologis in the first quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new stake in shares of Prologis in the 2nd quarter valued at $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis in the 4th quarter valued at $27,000. Central Valley Advisors LLC bought a new stake in shares of Prologis during the second quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the second quarter valued at $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD opened at $127.05 on Thursday. The stock has a 50 day simple moving average of $125.21 and a 200 day simple moving average of $118.73. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $117.63 billion, a PE ratio of 37.15, a P/E/G ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company earned $1.83 EPS. The firm’s quarterly revenue was down 18.1% compared to the same quarter last year. Sell-side analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.02%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Analyst Ratings Changes

Several analysts have weighed in on PLD shares. Mizuho dropped their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Barclays boosted their price target on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley raised their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday. Seven 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on 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 owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Prologis 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.