Wambolt & Associates LLC Has $2.49 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Wambolt & Associates LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,208 shares of the real estate investment trust’s stock after buying an additional 238 shares during the period. Wambolt & Associates LLC’s holdings in Prologis were worth $2,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Optimum Investment Advisors bought a new position in Prologis during the first quarter valued at about $26,000. American Capital Advisory LLC acquired a new stake in Prologis in the 2nd quarter worth approximately $26,000. True Wealth Design LLC bought a new stake in Prologis during the fourth quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new position in Prologis during the second quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis in the second quarter valued at approximately $31,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Argus upped 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. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Scotiabank upped their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, Wells Fargo & Company boosted 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. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.12.

Prologis Stock Performance

Prologis stock opened at $130.69 on Thursday. The stock has a market capitalization of $121.00 billion, a price-to-earnings ratio of 38.21, a P/E/G ratio of 3.27 and a beta of 1.07. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $123.77 and a 200 day simple moving average of $118.88.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. On average, research analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is currently 112.28%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.

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.