Phillips Wealth Planners LLC Has $536,000 Position in Prologis, Inc. (NYSE:PLD)

02 Nov 2024, 12:40 by Tristan Rich · The Markets Daily

Phillips Wealth Planners LLC increased its position in Prologis, Inc. (NYSE:PLD – Free Report) by 26.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,219 shares of the real estate investment trust’s stock after buying an additional 870 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Prologis were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Norden Group LLC increased its stake in shares of Prologis by 15.3% in the first quarter. Norden Group LLC now owns 5,008 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 664 shares during the period. Private Advisor Group LLC boosted its holdings in Prologis by 0.6% in the first quarter. Private Advisor Group LLC now owns 60,768 shares of the real estate investment trust’s stock valued at $7,913,000 after acquiring an additional 382 shares during the last quarter. Mission Wealth Management LP boosted its holdings in Prologis by 38.2% in the first quarter. Mission Wealth Management LP now owns 4,636 shares of the real estate investment trust’s stock valued at $604,000 after acquiring an additional 1,281 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Prologis by 7.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 269,162 shares of the real estate investment trust’s stock valued at $35,050,000 after acquiring an additional 19,345 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in Prologis by 12.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,510 shares of the real estate investment trust’s stock valued at $3,061,000 after acquiring an additional 2,654 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Argus increased their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Barclays cut their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $131.12.

Get Our Latest Report on PLD

Prologis Stock Up 0.4 %

PLD stock opened at $113.41 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.36 and a current ratio of 0.43. The company has a market capitalization of $105.04 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 3.04 and a beta of 1.07. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The stock has a fifty day moving average of $124.01 and a 200-day moving average of $117.31.

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

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.39%. Prologis’s dividend payout ratio is currently 116.01%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated 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 transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Prologis Profile

(Free Report)

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.