Investment Advisory Group LLC Has $889,000 Stock Holdings in Prologis, Inc. (NYSE:PLD)

Investment Advisory Group LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,036 shares of the real estate investment trust’s stock after selling 190 shares during the period. Investment Advisory Group LLC’s holdings in Prologis were worth $889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Optimum Investment Advisors acquired a new stake in shares of Prologis in the 1st quarter valued at approximately $26,000. American Capital Advisory LLC bought a new position in Prologis in the 2nd quarter valued at approximately $26,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis in the second quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new stake in shares of Prologis during the second quarter worth $29,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 0.8 %

Shares of PLD traded up $0.93 during trading hours on Tuesday, hitting $121.39. The stock had a trading volume of 5,379,595 shares, compared to its average volume of 3,623,977. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm has a market capitalization of $112.39 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The firm has a 50 day simple moving average of $125.26 and a 200-day simple moving average of $117.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s revenue was down 18.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 EPS. Sell-side analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued 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 3.16%. Prologis’s payout ratio is 112.28%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PLD shares. Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. The Goldman Sachs Group increased their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Wells Fargo & Company upped their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $132.71.

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.