Jamison Private Wealth Management Inc. Increases Stake in Prologis, Inc. (NYSE:PLD)

Jamison Private Wealth Management Inc. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 42.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,896 shares of the real estate investment trust’s stock after acquiring an additional 561 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Prologis were worth $239,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. increased its position in shares of Prologis by 20.1% during the 3rd quarter. NBC Securities Inc. now owns 1,848 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 309 shares during the last quarter. Creative Planning boosted its stake in Prologis by 18.3% during the third quarter. Creative Planning now owns 100,154 shares of the real estate investment trust’s stock worth $12,647,000 after buying an additional 15,510 shares during the period. CX Institutional increased its position in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 88 shares during the last quarter. Harrington Investments INC raised its stake in shares of Prologis by 1.9% in the third quarter. Harrington Investments INC now owns 15,367 shares of the real estate investment trust’s stock valued at $1,941,000 after acquiring an additional 290 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in shares of Prologis in the 3rd quarter worth about $237,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLD. Morgan Stanley increased their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Finally, Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Seven equities 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.71.

Prologis Trading Up 4.6 %

Shares of Prologis stock opened at $126.97 on Thursday. The stock has a market cap of $117.55 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The firm has a fifty day moving average price of $125.40 and a 200 day moving average price of $117.72. Prologis, Inc. has a 1 year low of $96.64 and a 1 year 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.

Prologis (NYSE:PLD) last released its quarterly earnings data 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). The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 EPS. Equities research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.02%. Prologis’s dividend payout ratio is presently 112.28%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’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 transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.