Prologis, Inc. (NYSE:PLD) Shares Purchased by Accurate Wealth Management LLC

Accurate Wealth Management LLC raised its position in Prologis, Inc. (NYSE:PLD) by 18.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,343 shares of the real estate investment trust’s stock after purchasing an additional 670 shares during the quarter. Accurate Wealth Management LLC’s holdings in Prologis were worth $527,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PLD. Vert Asset Management LLC grew its position in Prologis by 0.6% in the third quarter. Vert Asset Management LLC now owns 162,871 shares of the real estate investment trust’s stock worth $20,567,000 after acquiring an additional 994 shares during the period. Stratos Investment Management LLC purchased a new stake in Prologis in the third quarter valued at $221,000. Richard W. Paul & Associates LLC lifted its stake in shares of Prologis by 7.6% in the 3rd quarter. Richard W. Paul & Associates LLC now owns 3,514 shares of the real estate investment trust’s stock valued at $444,000 after purchasing an additional 247 shares during the last quarter. Stonegate Investment Group LLC grew its holdings in shares of Prologis by 1.4% during the 3rd quarter. Stonegate Investment Group LLC now owns 563,981 shares of the real estate investment trust’s stock worth $71,219,000 after purchasing an additional 7,766 shares during the period. Finally, Claro Advisors LLC acquired a new stake in shares of Prologis during the 3rd quarter worth about $4,738,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

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 stock was 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 owns 13,187 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Stock Down 0.2 %

Shares of Prologis stock opened at $122.50 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a market capitalization of $113.42 billion, a P/E ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. The company has a 50 day moving average of $125.43 and a 200 day moving average of $117.66.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. As a group, 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 given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.13%. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PLD shares. Scotiabank increased their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Barclays lowered their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. BMO Capital Markets restated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Finally, Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $132.71.

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.