Soltis Investment Advisors LLC Invests $233,000 in Prologis, Inc. (NYSE:PLD)

Soltis Investment Advisors LLC acquired a new stake in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,842 shares of the real estate investment trust’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. American Capital Advisory LLC acquired a new position in shares of Prologis in the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. bought a new position in Prologis during the second quarter worth $27,000. Sunbelt Securities Inc. lifted its stake 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 purchasing an additional 224 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Prologis in the second quarter worth $31,000. Finally, Dunhill Financial LLC increased its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

PLD stock opened at $111.68 on Friday. The firm’s 50-day moving average is $116.88 and its two-hundred day moving average is $119.01. The company has a market capitalization of $103.44 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced 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). 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%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. On average, analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Monday, December 16th. Prologis’s payout ratio is currently 116.01%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Evercore ISI lifted their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Barclays increased their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Scotiabank reduced their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. 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 research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Prologis has a consensus rating of “Hold” and a consensus price target of $128.88.

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.