Commonwealth Equity Services LLC Buys 226 Shares of Prologis, Inc. (NYSE:PLD)

Commonwealth Equity Services LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,512 shares of the real estate investment trust’s stock after acquiring an additional 226 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Prologis were worth $10,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Alliance Advisory Group LLC boosted its stake in Prologis by 32.2% during the second quarter. Wealth Alliance Advisory Group LLC now owns 7,514 shares of the real estate investment trust’s stock worth $844,000 after buying an additional 1,829 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Prologis by 18.4% during the second quarter. Concurrent Investment Advisors LLC now owns 15,549 shares of the real estate investment trust’s stock worth $1,746,000 after buying an additional 2,413 shares in the last quarter. Hixon Zuercher LLC boosted its stake in Prologis by 23.0% during the second quarter. Hixon Zuercher LLC now owns 18,964 shares of the real estate investment trust’s stock worth $2,130,000 after buying an additional 3,551 shares in the last quarter. Legacy Advisors LLC acquired a new stake in Prologis during the second quarter worth $221,000. Finally, Rothschild Investment LLC acquired a new stake in Prologis during the second quarter worth $304,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD opened at $128.26 on Thursday. The stock has a market capitalization of $118.76 billion, a P/E ratio of 37.50, a P/E/G ratio of 3.28 and a beta of 1.06. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. 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 business has a 50-day moving average price of $122.05 and a two-hundred day moving average price of $119.02.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 4.88% and a net margin of 36.37%. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 earnings per share. Equities analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. The Goldman Sachs Group boosted their target price on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Barclays boosted their target price on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Bank of America restated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Seven equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.12.

Insiders Place Their Bets

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

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.