Thrive Wealth Management LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Thrive Wealth Management LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,620 shares of the real estate investment trust’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLD. Optimum Investment Advisors bought a new stake in shares of Prologis in the 1st quarter valued at about $26,000. American Capital Advisory LLC acquired a new stake in Prologis in the second quarter worth $26,000. True Wealth Design LLC acquired a new stake in Prologis in the fourth quarter worth $27,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the second quarter worth $27,000. Finally, Central Valley Advisors LLC acquired a new position in shares of Prologis in the 2nd quarter valued at $29,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several research analyst reports. Barclays raised their price objective on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Bank of America reiterated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley lifted their price target 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. Finally, Evercore ISI increased their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.35.

Prologis Stock Up 0.3 %

PLD stock traded up $0.38 during mid-day trading on Friday, reaching $122.42. The company had a trading volume of 2,773,995 shares, compared to its average volume of 3,637,378. The company has a market capitalization of $113.34 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 3.25 and a beta of 1.07. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a 50 day simple moving average of $125.85 and a two-hundred day simple moving average of $118.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last issued its 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 firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 earnings per share. As a group, equities analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Buying and Selling at Prologis

In other 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 transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

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.