AE Wealth Management LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

AE Wealth Management LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 16.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 192,874 shares of the real estate investment trust’s stock after purchasing an additional 27,421 shares during the quarter. AE Wealth Management LLC’s holdings in Prologis were worth $21,662,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. King Luther Capital Management Corp lifted its stake in Prologis by 48.9% in the 2nd quarter. King Luther Capital Management Corp now owns 22,202 shares of the real estate investment trust’s stock worth $2,494,000 after purchasing an additional 7,287 shares in the last quarter. Bridges Investment Management Inc. raised its position in shares of Prologis by 508.8% during the 2nd quarter. Bridges Investment Management Inc. now owns 132,325 shares of the real estate investment trust’s stock valued at $14,861,000 after buying an additional 110,590 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Prologis by 12.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,237,322 shares of the real estate investment trust’s stock valued at $475,894,000 after buying an additional 477,785 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Prologis by 81.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 14,750 shares of the real estate investment trust’s stock valued at $1,656,000 after buying an additional 6,611 shares in the last quarter. Finally, Clifford Group LLC raised its position in shares of Prologis by 3.1% during the 2nd quarter. Clifford Group LLC now owns 4,952 shares of the real estate investment trust’s stock valued at $556,000 after buying an additional 148 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLD has been the topic of several research reports. Bank of America restated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. BMO Capital Markets restated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Evercore ISI raised their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Morgan Stanley increased their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.35.

Prologis Price Performance

Shares of Prologis stock opened at $128.51 on Friday. The firm has a market cap of $118.98 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $125.38 and its two-hundred day simple moving average is $118.80.

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

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is 112.28%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

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.