Ashton Thomas Securities LLC Invests $209,000 in Prologis, Inc. (NYSE:PLD)

Ashton Thomas Securities LLC acquired a new position in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,657 shares of the real estate investment trust’s stock, valued at approximately $209,000.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLD. Barclays decreased their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Bank of America reissued a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Scotiabank decreased their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Truist Financial raised their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Trading Down 1.5 %

Shares of PLD stock opened at $114.10 on Tuesday. 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 business has a 50-day moving average price of $122.69 and a two-hundred day moving average price of $117.77. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The firm has a market cap of $105.68 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 3.04 and a beta of 1.08.

Prologis (NYSE:PLD) last issued 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 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm earned $1.30 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts anticipate 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. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by corporate 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.