Brighton Jones LLC Buys 298 Shares of Prologis, Inc. (NYSE:PLD)

Brighton Jones LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,635 shares of the real estate investment trust’s stock after acquiring an additional 298 shares during the quarter. Brighton Jones LLC’s holdings in Prologis were worth $1,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Optimum Investment Advisors acquired a new stake in Prologis during the first quarter worth approximately $26,000. American Capital Advisory LLC acquired a new stake in Prologis during the second quarter worth approximately $26,000. True Wealth Design LLC acquired a new stake in Prologis during the fourth quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new stake in Prologis during the second quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis during the second quarter worth approximately $31,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLD shares. Truist Financial raised their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays raised their price objective on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Evercore ISI raised their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Scotiabank raised their price objective on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Finally, StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Seven 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 company’s stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Prologis Stock Down 2.4 %

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 quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $125.48 and its 200-day moving average is $118.74. The firm has a market capitalization of $116.17 billion, a PE ratio of 36.69, a P/E/G ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results 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 business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm 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 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 (DPR) is currently 112.28%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction 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 sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently 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.