N.E.W. Advisory Services LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,132 shares of the real estate investment trust’s stock after selling 430 shares during the period. N.E.W. Advisory Services LLC’s holdings in Prologis were worth $1,522,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in Prologis during the 2nd quarter worth $26,000. Strategic Blueprint LLC bought a new stake in shares of Prologis in the 2nd quarter worth about $30,000. Albion Financial Group UT bought a new stake in shares of Prologis in the 2nd quarter worth about $48,000. Founders Capital Management increased its position in shares of Prologis by 98.5% in the 3rd quarter. Founders Capital Management now owns 405 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 201 shares during the last quarter. Finally, Meridian Wealth Partners LLC increased its position in shares of Prologis by 70.3% in the 1st quarter. Meridian Wealth Partners LLC now owns 441 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 182 shares during the last quarter. 92.23% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Prologis from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 19th. Royal Bank of Canada boosted their target price on shares of Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th. Truist Securities boosted their target price on shares of Prologis from $123.00 to $137.00 and gave the stock a “buy” rating in a research report on Saturday, July 31st. Wells Fargo & Company increased their price objective on shares of Prologis from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BTIG Research raised their price target on Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Wednesday, October 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Buy” and a consensus price target of $149.73.
Prologis (NYSE:PLD) last posted its earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.06). Prologis had a net margin of 42.95% and a return on equity of 5.42%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Research analysts expect that Prologis, Inc. will post 4.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Friday, September 17th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 95.09%.
In other news, Director Irving F. Lyons III sold 24,000 shares of Prologis stock in a transaction on Monday, August 30th. The stock was sold at an average price of $133.53, for a total transaction of $3,204,720.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Hamid R. Moghadam sold 14,355 shares of Prologis stock in a transaction on Monday, October 25th. The stock was sold at an average price of $144.64, for a total value of $2,076,307.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 345,380 shares of company stock worth $49,569,018. 0.87% of the stock is owned by insiders.
Prologis Company Profile
Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.
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