Semmax Financial Advisors Inc. Acquires New Position in Prologis, Inc. (NYSE:PLD)

Semmax Financial Advisors Inc. bought a new position in Prologis, Inc. (NYSE:PLD) in the 2nd quarter, HoldingsChannel reports. The fund bought 219 shares of the real estate investment trust’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Arbor Capital Management Inc. ADV raised its holdings in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after acquiring an additional 87 shares during the period. Mitchell Sinkler & Starr PA increased its holdings in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares during the period. Destination Wealth Management increased its holdings in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 92 shares during the period. CVA Family Office LLC increased its holdings in shares of Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 94 shares during the period. Finally, Tiemann Investment Advisors LLC increased its holdings in shares of Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after purchasing an additional 100 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $126.68 on Wednesday. The company has a market cap of $117.29 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 3.36 and a beta of 1.07. The firm’s fifty day moving average is $125.70 and its 200 day moving average is $118.45. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue was down 18.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. Sell-side analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is presently 112.28%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLD. Mizuho lowered their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Barclays increased their price target on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Evercore ISI increased their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.35.

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.