Prologis, Inc. (NYSE:PLD) Position Boosted by Providence Capital Advisors LLC

Providence Capital Advisors LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 40.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,889 shares of the real estate investment trust’s stock after acquiring an additional 19,045 shares during the quarter. Prologis makes up 1.6% of Providence Capital Advisors LLC’s portfolio, making the stock its 12th biggest holding. Providence Capital Advisors LLC’s holdings in Prologis were worth $7,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC acquired a new stake in shares of Prologis in the 4th quarter valued at $27,000. Optimum Investment Advisors bought a new stake in Prologis during the first quarter valued at about $26,000. American Capital Advisory LLC bought a new stake in Prologis during the second quarter valued at about $26,000. Clear Investment Research LLC lifted its stake in shares of Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 158 shares during the period. Finally, Central Valley Advisors LLC bought a new stake in shares of Prologis in the second quarter valued at about $29,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PLD shares. The Goldman Sachs Group increased their target price on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Argus increased their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Evercore ISI increased their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Stock Performance

Shares of Prologis stock opened at $126.63 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $117.24 billion, a P/E ratio of 37.03, a P/E/G ratio of 3.36 and a beta of 1.07. The firm has a 50 day simple moving average of $125.59 and a 200 day simple moving average of $118.50. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

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

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

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.