Prologis, Inc. (NYSE:PLD) Shares Bought by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 81.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 14,750 shares of the real estate investment trust’s stock after purchasing an additional 6,611 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Prologis were worth $1,656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its holdings in Prologis by 4.4% in the fourth quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock valued at $731,000 after acquiring an additional 233 shares during the period. Gryphon Financial Partners LLC increased its holdings in shares of Prologis by 61.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock valued at $692,000 after purchasing an additional 1,995 shares in the last quarter. TrinityPoint Wealth LLC lifted its stake in shares of Prologis by 18.0% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,228 shares of the real estate investment trust’s stock valued at $297,000 after purchasing an additional 340 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Prologis by 18.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 93,512 shares of the real estate investment trust’s stock worth $12,465,000 after buying an additional 14,603 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Prologis by 68.6% during the fourth quarter. Intech Investment Management LLC now owns 11,041 shares of the real estate investment trust’s stock valued at $1,472,000 after buying an additional 4,491 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on PLD. Scotiabank upped their price objective on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Barclays boosted their price objective on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley increased their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company boosted their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Seven investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Price Performance

Shares of PLD stock opened at $125.47 on Monday. The firm’s 50-day moving average is $125.48 and its two-hundred day moving average is $118.55. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. 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 company has a market capitalization of $116.17 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

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

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.06%. Prologis’s payout ratio is currently 112.28%.

Insiders Place Their Bets

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