LPL Financial LLC Increases Position in Prologis, Inc. (NYSE:PLD)

LPL Financial LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 34.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 656,703 shares of the real estate investment trust’s stock after buying an additional 166,830 shares during the period. LPL Financial LLC owned 0.07% of Prologis worth $73,754,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PLD. Gilbert & Cook Inc. increased its stake in Prologis by 4.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock worth $731,000 after buying an additional 233 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of Prologis by 61.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock worth $692,000 after purchasing an additional 1,995 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Prologis by 5.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 3,400 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 173 shares during the last quarter. Haverford Trust Co acquired a new position in shares of Prologis during the 4th quarter worth approximately $291,000. Finally, Meridian Wealth Management LLC boosted its holdings in shares of Prologis by 26.9% during the 4th quarter. Meridian Wealth Management LLC now owns 3,338 shares of the real estate investment trust’s stock worth $445,000 after purchasing an additional 708 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Down 0.2 %

Prologis stock opened at $129.98 on Friday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock’s fifty day simple moving average is $124.42 and its 200-day simple moving average is $118.94. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $120.34 billion, a P/E ratio of 38.01, a P/E/G ratio of 3.36 and a beta of 1.07.

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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $1.83 EPS. The firm’s revenue was down 18.1% compared to the same quarter last year. As a group, equities analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PLD. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Argus boosted their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.12.

Prologis Company 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.