Prologis, Inc. (NYSE:PLD) Stock Position Lifted by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA increased its stake in Prologis, Inc. (NYSE:PLD) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,860 shares of the real estate investment trust’s stock after purchasing an additional 90 shares during the period. Mitchell Sinkler & Starr PA’s holdings in Prologis were worth $228,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PLD. Optimum Investment Advisors bought a new stake in shares of Prologis in the 1st quarter worth approximately $26,000. American Capital Advisory LLC acquired a new stake in Prologis in the 2nd quarter valued at approximately $26,000. True Wealth Design LLC acquired a new stake in Prologis in the 4th quarter valued at approximately $27,000. Central Valley Advisors LLC acquired a new stake in Prologis in the 2nd quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis in the 2nd quarter valued at approximately $31,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PLD shares. Bank of America restated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

Prologis Stock Performance

Shares of NYSE PLD opened at $130.69 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $121.00 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 3.27 and a beta of 1.07. The stock’s fifty day simple moving average is $123.77 and its 200 day simple moving average is $118.88. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 earnings per share. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.96 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 2.94%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

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.