TrinityPoint Wealth LLC Buys 339 Shares of Prologis, Inc. (NYSE:PLD)

TrinityPoint Wealth LLC lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 10.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,602 shares of the real estate investment trust’s stock after buying an additional 339 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Prologis were worth $455,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB bought a new stake in shares of Prologis during the 1st quarter valued at $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis in the second quarter valued at about $203,223,000. AMF Tjanstepension AB raised its stake in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Prologis by 326.3% in the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after acquiring an additional 1,358,542 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Prologis by 137.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock valued at $208,518,000 after purchasing an additional 1,075,614 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 1.1 %

NYSE PLD opened at $114.65 on Tuesday. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $121.03 and a 200 day simple moving average of $118.23. The stock has a market capitalization of $106.19 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last released its quarterly earnings data 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.35%. Prologis’s dividend payout ratio is currently 116.01%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’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. This represents a 28.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PLD shares. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Truist Financial increased their price target 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 restated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Argus boosted their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $131.18.

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.