Prologis, Inc. (NYSE:PLD) Shares Bought by Arkadios Wealth Advisors

by · The Markets Daily

Arkadios Wealth Advisors raised its holdings in Prologis, Inc. (NYSE:PLD – Free Report) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,195 shares of the real estate investment trust’s stock after purchasing an additional 1,860 shares during the period. Arkadios Wealth Advisors’ holdings in Prologis were worth $1,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PLD. Arbor Capital Management Inc. ADV grew its stake in Prologis by 0.8% in 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 acquiring an additional 87 shares during the period. CX Institutional grew its position in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares during the period. Mitchell Sinkler & Starr PA increased its stake in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares in the last quarter. Destination Wealth Management raised its position in shares of Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 92 shares during the last quarter. Finally, DT Investment Partners LLC raised its position in shares of Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 93 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction 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 transaction, the executive now directly owns 13,187 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research reports. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Morgan Stanley increased their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, BMO Capital Markets restated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Eight equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Check Out Our Latest Analysis on PLD

Prologis Stock Performance

Shares of Prologis stock opened at $117.54 on Friday. The firm has a market cap of $108.82 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The business’s fifty day simple moving average is $125.06 and its 200-day simple moving average is $117.44.

Prologis (NYSE:PLD – Get Free Report) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 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 company earned $1.30 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.27%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.

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