Kingsview Wealth Management LLC Purchases 1,088 Shares of Prologis, Inc. (NYSE:PLD)

Kingsview Wealth Management LLC increased its position in Prologis, Inc. (NYSE:PLD) by 5.4% in the 3rd quarter, Holdings Channel reports. The firm owned 21,187 shares of the real estate investment trust’s stock after buying an additional 1,088 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Prologis were worth $2,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Prologis Stock Performance

PLD stock opened at $115.80 on Monday. The company has a 50 day moving average price of $119.75 and a 200 day moving average price of $118.48. 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 current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $107.25 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 3.00 and a beta of 1.08.

Prologis (NYSE:PLD) last released its earnings results 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 for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS. Analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLD. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company increased 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 investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.25.

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.