B. Riley Wealth Advisors Inc. Makes New $875,000 Investment in Prologis, Inc. $PLD

B. Riley Wealth Advisors Inc. purchased a new stake in Prologis, Inc. (NYSE:PLD) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,320 shares of the real estate investment trust’s stock, valued at approximately $875,000.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC increased its stake in Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Prologis by 187.9% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 21,559 shares of the real estate investment trust’s stock valued at $2,410,000 after acquiring an additional 14,071 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Prologis by 4.6% during the 1st quarter. Cresset Asset Management LLC now owns 39,933 shares of the real estate investment trust’s stock worth $4,464,000 after purchasing an additional 1,759 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Prologis by 8.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 32,082 shares of the real estate investment trust’s stock valued at $3,586,000 after purchasing an additional 2,506 shares during the period. Finally, Brooklyn Investment Group raised its holdings in Prologis by 31.7% in the 1st quarter. Brooklyn Investment Group now owns 5,507 shares of the real estate investment trust’s stock valued at $616,000 after acquiring an additional 1,325 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on PLD shares. Mizuho raised their price target on shares of Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Barclays decreased their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Scotiabank increased their target price on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Industrial Alliance Securities set a $119.00 price objective on Prologis in a research report on Monday, October 20th. Finally, Wells Fargo & Company increased their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.88.

Prologis Price Performance

Shares of PLD stock opened at $130.71 on Tuesday. The firm has a market capitalization of $121.42 billion, a P/E ratio of 38.11, a P/E/G ratio of 4.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $131.70. The stock has a 50 day moving average price of $124.63 and a 200 day moving average price of $114.89.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the transaction, the director directly owned 8,208 shares in the company, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 1,621 shares of company stock valued at $198,655. 0.57% of the stock is currently owned by insiders.

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.