Kowal Investment Group LLC Takes $542,000 Position in Prologis, Inc. (NYSE:PLD)

Kowal Investment Group LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,295 shares of the real estate investment trust’s stock, valued at approximately $542,000.

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

Prologis Trading Up 4.6 %

Shares of PLD stock opened at $126.97 on Thursday. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market cap of $117.55 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 3.05 and a beta of 1.07. The stock has a 50-day moving average of $125.40 and a 200-day moving average of $117.72.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for 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 business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 EPS. On average, equities research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company 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 3.02%. Prologis’s payout ratio is 112.28%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Scotiabank lifted their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Finally, Barclays dropped their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.