Kowal Investment Group LLC Buys Shares of 4,295 Prologis, Inc. (NYSE:PLD)

Kowal Investment Group LLC purchased a new position in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,295 shares of the real estate investment trust’s stock, valued at approximately $542,000.

A number of other hedge funds also recently modified their holdings of the business. Presima Securities ULC raised its holdings in Prologis by 6.9% during the 3rd quarter. Presima Securities ULC now owns 314,827 shares of the real estate investment trust’s stock worth $39,756,000 after buying an additional 20,441 shares during the period. Regent Peak Wealth Advisors LLC acquired a new stake in shares of Prologis during the third quarter worth $204,000. Vontobel Holding Ltd. lifted its position in Prologis by 7.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 115,394 shares of the real estate investment trust’s stock valued at $14,572,000 after acquiring an additional 8,260 shares in the last quarter. Sunpointe LLC bought a new stake in Prologis in the 3rd quarter valued at $277,000. Finally, SeaCrest Wealth Management LLC increased its holdings in Prologis by 22.9% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,790 shares of the real estate investment trust’s stock worth $352,000 after purchasing an additional 520 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Bank of America restated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Argus raised their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley boosted 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. Finally, Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.71.

Prologis Stock Performance

PLD opened at $126.97 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The business has a 50 day moving average of $125.40 and a 200-day moving average of $117.72. 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.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.02%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Insider Buying and Selling at Prologis

In other 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 completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

About Prologis

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.