Napa Wealth Management Boosts Position in Prologis, Inc. (NYSE:PLD)

Napa Wealth Management grew its position in Prologis, Inc. (NYSE:PLD) by 21.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,432 shares of the real estate investment trust’s stock after buying an additional 429 shares during the quarter. Napa Wealth Management’s holdings in Prologis were worth $307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. M&G Plc purchased a new stake in shares of Prologis in the first quarter valued at about $378,000. Jacobi Capital Management LLC raised its holdings in shares of Prologis by 11.4% in the first quarter. Jacobi Capital Management LLC now owns 2,918 shares of the real estate investment trust’s stock worth $380,000 after acquiring an additional 298 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Prologis by 36.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 72,817 shares of the real estate investment trust’s stock valued at $9,482,000 after acquiring an additional 19,450 shares in the last quarter. Bessemer Group Inc. increased its position in Prologis by 1.4% during the 1st quarter. Bessemer Group Inc. now owns 2,404,789 shares of the real estate investment trust’s stock worth $313,151,000 after purchasing an additional 33,531 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in Prologis by 23.5% in the 1st quarter. Lake Street Advisors Group LLC now owns 8,944 shares of the real estate investment trust’s stock valued at $1,165,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.0 %

Shares of NYSE PLD opened at $113.38 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52. The stock’s 50-day simple moving average is $121.34 and its 200-day simple moving average is $118.16. The firm has a market cap of $105.01 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.98 and a beta of 1.08.

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

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis’s payout ratio is 116.01%.

Insider Buying and Selling

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 sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PLD shares. Morgan Stanley raised their price target 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. Evercore ISI increased their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays dropped their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Scotiabank dropped their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock 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, the company has an average rating of “Moderate Buy” and a consensus target price of $131.12.

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.