Wrapmanager Inc. Takes $209,000 Position in Prologis, Inc. (NYSE:PLD)

Wrapmanager Inc. bought a new position in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, HoldingsChannel reports. The fund bought 1,659 shares of the real estate investment trust’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Verity & Verity LLC boosted its position in Prologis by 1.2% during the 3rd quarter. Verity & Verity LLC now owns 103,569 shares of the real estate investment trust’s stock worth $13,079,000 after acquiring an additional 1,190 shares during the period. Caprock Group LLC increased its holdings in shares of Prologis by 1.7% in the 3rd quarter. Caprock Group LLC now owns 14,226 shares of the real estate investment trust’s stock valued at $1,797,000 after purchasing an additional 236 shares during the period. Pathstone Holdings LLC lifted its position in shares of Prologis by 0.6% in the third quarter. Pathstone Holdings LLC now owns 99,551 shares of the real estate investment trust’s stock worth $12,571,000 after purchasing an additional 557 shares in the last quarter. Napa Wealth Management boosted its holdings in shares of Prologis by 21.4% during the third quarter. Napa Wealth Management now owns 2,432 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 429 shares during the period. Finally, Strengthening Families & Communities LLC grew its position in Prologis by 9.3% during the third quarter. Strengthening Families & Communities LLC now owns 17,194 shares of the real estate investment trust’s stock valued at $2,171,000 after purchasing an additional 1,458 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Prologis Stock Performance

Shares of NYSE PLD opened at $115.13 on Wednesday. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market cap 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 business’s 50 day moving average is $120.69 and its two-hundred day moving average is $118.30.

Prologis (NYSE:PLD) last released its earnings results 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). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 earnings per share. On average, equities analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PLD shares. Barclays increased their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday. Argus raised their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Evercore ISI raised their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.18.

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.