Chesapeake Wealth Management Raises Holdings in Prologis, Inc. (NYSE:PLD)

Chesapeake Wealth Management increased its position in Prologis, Inc. (NYSE:PLD) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,226 shares of the real estate investment trust’s stock after buying an additional 585 shares during the period. Chesapeake Wealth Management’s holdings in Prologis were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. Optimum Investment Advisors purchased a new stake in shares of Prologis during the 1st quarter worth approximately $26,000. American Capital Advisory LLC purchased a new stake in Prologis during the second quarter valued at $26,000. True Wealth Design LLC bought a new position in Prologis during the fourth quarter valued at $27,000. Central Valley Advisors LLC purchased a new position in shares of Prologis in the 2nd quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis in the 2nd quarter worth about $31,000. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of PLD stock opened at $125.47 on Friday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $125.48 and a two-hundred day simple moving average of $118.74. The stock has a market capitalization of $116.17 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 3.36 and a beta of 1.07.

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

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.06%. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLD. Wells Fargo & Company increased their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Argus lifted their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank boosted their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction 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 completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.