Fifth Third Wealth Advisors LLC Has $2.06 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Fifth Third Wealth Advisors LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 17.3% during the 3rd quarter, Holdings Channel reports. The fund owned 16,343 shares of the real estate investment trust’s stock after buying an additional 2,415 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Prologis were worth $2,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ASB Consultores LLC boosted its holdings in Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV lifted its position in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after buying an additional 87 shares during the last quarter. CX Institutional boosted its position in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the period. Mitchell Sinkler & Starr PA lifted its stake in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 90 shares in the last quarter. Finally, Destination Wealth Management boosted its holdings in shares of Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 92 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on 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 in the company, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Prologis Stock Up 0.4 %

NYSE PLD opened at $115.13 on Wednesday. The stock has a 50 day moving average price of $120.69 and a 200-day moving average price of $118.30. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a market capitalization of $106.63 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business earned $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.34%. Prologis’s payout ratio is currently 116.01%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PLD shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Scotiabank cut their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Finally, Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.18.

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.