Balboa Wealth Partners Buys New Position in Prologis, Inc. (NYSE:PLD)

Balboa Wealth Partners purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the third quarter, Holdings Channel.com reports. The fund purchased 2,075 shares of the real estate investment trust’s stock, valued at approximately $262,000.

A number of other institutional investors also recently made changes to their positions in PLD. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis in the 2nd quarter worth approximately $27,000. American Capital Advisory LLC bought a new stake in shares of Prologis during the 2nd quarter worth $26,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the 2nd quarter worth $29,000. Sunbelt Securities Inc. raised 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 worth $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Prologis during the second quarter valued at $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Down 1.2 %

Shares of NYSE:PLD opened at $113.38 on Friday. The company has a fifty day moving average of $121.62 and a 200-day moving average of $117.88. The company has a market capitalization of $105.01 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08. Prologis, Inc. has a 52-week low of $101.11 and a 52-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.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during 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%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. On average, equities analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PLD shares. Barclays cut their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Evercore ISI raised 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. Argus boosted their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Scotiabank dropped their price target 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. Finally, Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.