Beacon Financial Advisory LLC Purchases 544 Shares of Prologis, Inc. (NYSE:PLD)

Beacon Financial Advisory LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 21.0% in the third quarter, Holdings Channel reports. The firm owned 3,133 shares of the real estate investment trust’s stock after acquiring an additional 544 shares during the quarter. Beacon Financial Advisory LLC’s holdings in Prologis were worth $396,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PLD. Norden Group LLC boosted its position in shares of Prologis by 15.3% during the first quarter. Norden Group LLC now owns 5,008 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 664 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Prologis in the first quarter worth approximately $203,000. GSA Capital Partners LLP purchased a new position in shares of Prologis during the first quarter valued at approximately $1,172,000. Concord Investment Counsel Inc. bought a new position in Prologis during the first quarter valued at approximately $2,308,000. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Prologis by 5.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 119,755 shares of the real estate investment trust’s stock worth $15,594,000 after purchasing an additional 6,578 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 0.6 %

PLD opened at $113.74 on Thursday. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $105.34 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 2.97 and a beta of 1.08. The firm’s fifty day moving average is $123.15 and its 200 day moving average is $117.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Prologis’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors 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 dividend on an annualized basis and a dividend yield of 3.38%. Prologis’s dividend payout ratio is 116.01%.

Insider Activity at Prologis

In other Prologis 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PLD. Truist Financial boosted their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Scotiabank dropped their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. BMO Capital Markets reaffirmed 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 increased their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

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.