Atria Investments Inc Purchases 14,558 Shares of Prologis, Inc. (NYSE:PLD)

Atria Investments Inc increased its position in Prologis, Inc. (NYSE:PLD) by 16.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 104,702 shares of the real estate investment trust’s stock after buying an additional 14,558 shares during the quarter. Atria Investments Inc’s holdings in Prologis were worth $13,222,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PLD. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis during the 2nd quarter valued at about $27,000. American Capital Advisory LLC acquired a new stake in Prologis in the second quarter valued at approximately $26,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis during the second quarter worth $29,000. Sunbelt Securities Inc. lifted its stake in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis during the second quarter worth $31,000. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.4 %

Shares of Prologis stock opened at $115.83 on Monday. The company’s fifty day simple moving average is $122.69 and its 200-day simple moving average is $117.67. The company has a market cap of $107.28 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.98 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

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

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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 transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLD shares. Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Argus increased their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays lowered their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Company 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.