Peddock Capital Advisors LLC Buys 641 Shares of Prologis, Inc. (NYSE:PLD)

Peddock Capital Advisors LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 24.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,308 shares of the real estate investment trust’s stock after purchasing an additional 641 shares during the period. Peddock Capital Advisors LLC’s holdings in Prologis were worth $418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. True Wealth Design LLC acquired a new position in shares of Prologis during the fourth quarter valued at about $27,000. Optimum Investment Advisors acquired a new position in shares of Prologis during the first quarter valued at about $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the second quarter valued at about $27,000. American Capital Advisory LLC acquired a new position in shares of Prologis during the second quarter valued at about $26,000. Finally, Central Valley Advisors LLC acquired a new position in shares of Prologis during the second quarter valued at about $29,000. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Argus lifted their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI boosted their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank boosted their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Bank of America restated a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Truist Financial boosted their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Stock Performance

Shares of NYSE PLD traded down $1.00 during midday trading on Wednesday, hitting $118.34. The company’s stock had a trading volume of 601,198 shares, compared to its average volume of 3,616,408. The stock has a fifty day moving average price of $125.64 and a 200 day moving average price of $117.95. Prologis, Inc. has a one year low of $96.64 and a one year 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 firm has a market capitalization of $109.56 billion, a price-to-earnings ratio of 34.89, a P/E/G ratio of 3.25 and a beta of 1.07.

Prologis (NYSE:PLD) last posted 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company posted $1.83 EPS. The business’s revenue was down 18.1% on a year-over-year basis. On average, research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.24%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction 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 completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

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.