Reston Wealth Management LLC Purchases New Position in Prologis, Inc. (NYSE:PLD)

Reston Wealth Management LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 555 shares of the real estate investment trust’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Capital Advisory LLC purchased a new position in Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the second quarter worth about $27,000. Central Valley Advisors LLC bought a new stake in shares of Prologis during the second quarter valued at approximately $29,000. Sunbelt Securities Inc. grew its holdings in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $112.95 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 1 year low of $98.82 and a 1 year high of $137.52. The company has a fifty day simple moving average of $124.32 and a 200 day simple moving average of $117.33. The company has a market cap of $104.58 billion, a P/E ratio of 34.12, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.40%. Prologis’s dividend payout ratio is 116.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PLD shares. BMO Capital Markets restated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Barclays cut their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. decreased their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the 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 sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

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.