Kesler Norman & Wride LLC Has $797,000 Position in Prologis, Inc. (NYSE:PLD)

Kesler Norman & Wride LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 43.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,311 shares of the real estate investment trust’s stock after selling 4,909 shares during the period. Kesler Norman & Wride LLC’s holdings in Prologis were worth $797,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PLD. True Wealth Design LLC bought a new position in shares of Prologis during the 4th quarter valued at $27,000. Optimum Investment Advisors bought a new position in shares of Prologis during the 1st quarter valued at $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter valued at $27,000. American Capital Advisory LLC bought a new position in shares of Prologis during the 2nd quarter valued at $26,000. Finally, Central Valley Advisors LLC bought a new position in Prologis in the 2nd quarter worth $29,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

Prologis Trading Down 0.6 %

Shares of NYSE PLD opened at $119.32 on Wednesday. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market cap 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 current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $125.77 and a two-hundred day moving average of $118.02.

Prologis (NYSE:PLD) last announced 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 company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. The company’s revenue was down 18.1% on a year-over-year basis. As a group, equities analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared 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. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analyst Weigh In

PLD has been the topic of several recent analyst reports. Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Truist Financial lifted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Barclays boosted their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $133.35.

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.