Claro Advisors LLC Buys New Stake in Prologis, Inc. (NYSE:PLD)

Claro Advisors LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 37,516 shares of the real estate investment trust’s stock, valued at approximately $4,738,000.

Several other institutional investors also recently bought and sold shares of PLD. Valeo Financial Advisors LLC grew its stake in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Swedbank AB purchased a new position in shares of Prologis in the 1st quarter worth $596,614,000. Alphinity Investment Management Pty Ltd purchased a new position in shares of Prologis in the 1st quarter worth $465,659,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Prologis in the 2nd quarter worth $203,223,000. Finally, Vanguard Group Inc. grew its stake in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Prologis Stock Down 0.4 %

Shares of PLD traded down $0.45 during mid-day trading on Friday, hitting $122.25. 396,408 shares of the company’s stock were exchanged, compared to its average volume of 3,626,632. The company has a market cap of $113.18 billion, a price-to-earnings ratio of 35.89, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s 50-day moving average is $125.42 and its 200-day moving average is $117.76.

Prologis (NYSE:PLD) last issued its 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 during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently declared 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 3.14%. Prologis’s dividend payout ratio is currently 112.28%.

Analyst Ratings Changes

A number of brokerages have commented on PLD. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Barclays dropped their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Morgan Stanley lifted their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Bank of America restated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $132.71.

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.