B. Riley Wealth Advisors Inc. Sells 873 Shares of Prologis, Inc. (NYSE:PLD)

B. Riley Wealth Advisors Inc. reduced its position in Prologis, Inc. (NYSE:PLD) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,457 shares of the real estate investment trust’s stock after selling 873 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Prologis were worth $1,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Inspire Trust Co. N.A. boosted its stake in Prologis by 20.5% in the third quarter. Inspire Trust Co. N.A. now owns 26,000 shares of the real estate investment trust’s stock valued at $3,283,000 after acquiring an additional 4,419 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Prologis by 20.4% in the 3rd quarter. Synovus Financial Corp now owns 4,659 shares of the real estate investment trust’s stock worth $588,000 after purchasing an additional 790 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Prologis by 12.7% during the third quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust’s stock worth $25,288,000 after purchasing an additional 22,516 shares during the period. Destination Wealth Management increased its holdings in Prologis by 121.5% in the third quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust’s stock valued at $569,000 after purchasing an additional 2,471 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Prologis in the third quarter valued at about $1,348,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $108.87 on Tuesday. The firm has a market capitalization of $100.83 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 3.27 and a beta of 1.07. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $116.22 and its 200-day moving average price is $119.21. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $135.76.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion during 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%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. Equities research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.96 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.53%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. lowered their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Scotiabank reduced their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $128.88.

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.