Meridian Wealth Management LLC Has $466,000 Stock Holdings in Prologis, Inc. (NYSE:PLD)

Meridian Wealth Management LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 10.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,688 shares of the real estate investment trust’s stock after selling 412 shares during the quarter. Meridian Wealth Management LLC’s holdings in Prologis were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PLD. American Capital Advisory LLC bought a new position in Prologis during the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new position in Prologis in the 2nd quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new stake in shares of Prologis during the 2nd quarter valued at $29,000. Sunbelt Securities Inc. increased its position in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new stake in Prologis during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $115.80 on Monday. The stock has a market capitalization of $107.25 billion, a PE ratio of 34.98, a P/E/G ratio of 3.00 and a beta of 1.08. 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 $119.75 and a two-hundred day simple moving average of $118.48. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. On average, research analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced 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. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Bank of America restated a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Truist Financial boosted 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. Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $131.25.

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.