Apollon Wealth Management LLC Has $2.24 Million Holdings in Prologis, Inc. (NYSE:PLD)

Apollon Wealth Management LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,772 shares of the real estate investment trust’s stock after buying an additional 157 shares during the quarter. Apollon Wealth Management LLC’s holdings in Prologis were worth $2,244,000 as of its most recent SEC filing.

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

Prologis Trading Up 3.4 %

NYSE PLD opened at $116.56 on Thursday. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The business’s fifty day moving average is $122.11 and its 200 day moving average is $117.91. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market cap of $107.95 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08.

Prologis (NYSE:PLD) last posted its earnings results 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 return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for 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 firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Prologis, Inc. will post 5.45 EPS 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. This represents a $3.84 annualized dividend and a yield of 3.29%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated 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 approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PLD shares. JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Truist Financial boosted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Bank of America reissued a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Barclays dropped their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

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.