Nicholson Wealth Management Group LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Nicholson Wealth Management Group LLC acquired a new stake in Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,620 shares of the real estate investment trust’s stock, valued at approximately $583,000.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of Prologis by 8.8% in the first quarter. International Assets Investment Management LLC now owns 1,846 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 149 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of Prologis during the first quarter worth $222,000. Wealthcare Advisory Partners LLC increased its position in shares of Prologis by 28.8% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,518 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 563 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Prologis by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 272,548 shares of the real estate investment trust’s stock valued at $35,491,000 after acquiring an additional 9,639 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in Prologis by 0.3% in the first quarter. Artemis Investment Management LLP now owns 72,269 shares of the real estate investment trust’s stock valued at $9,154,000 after purchasing an additional 236 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $120.39 on Friday. The stock’s 50-day moving average price is $125.26 and its 200 day moving average price is $117.54. 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 stock has a market capitalization of $111.46 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the 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 completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays reduced their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday. Argus raised their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI upped their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $131.47.

Prologis 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.