Leibman Financial Services Inc. Takes $1.89 Million Position in Prologis, Inc. (NYSE:PLD)

Leibman Financial Services Inc. bought a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,966 shares of the real estate investment trust’s stock, valued at approximately $1,890,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Arbor Capital Management Inc. ADV lifted its stake in shares of Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares in the last quarter. Mitchell Sinkler & Starr PA boosted its holdings in Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 90 shares during the period. Destination Wealth Management grew its position in Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 92 shares in the last quarter. CVA Family Office LLC raised its stake in shares of Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 94 shares during the period. Finally, Tiemann Investment Advisors LLC lifted its position in shares of Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after purchasing an additional 100 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of PLD opened at $119.32 on Wednesday. The firm has a market capitalization of $110.47 billion, a PE ratio of 34.89, a P/E/G ratio of 3.25 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $125.77 and a 200 day moving average price of $118.02. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion for 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%. Prologis’s revenue was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced 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. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.22%. Prologis’s dividend payout ratio is currently 112.28%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays lifted 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. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Wells Fargo & Company lifted 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. Scotiabank upped their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Finally, Morgan Stanley lifted their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $133.35.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

About Prologis

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.