Prologis, Inc. (NYSE:PLD) Shares Acquired by Mainsail Financial Group LLC

Mainsail Financial Group LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,145 shares of the real estate investment trust’s stock after acquiring an additional 448 shares during the quarter. Mainsail Financial Group LLC’s holdings in Prologis were worth $849,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in PLD. American Capital Advisory LLC purchased a new position in shares of Prologis during the 2nd quarter worth approximately $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 purchased a new position in Prologis in the 2nd quarter valued at approximately $29,000. Sunbelt Securities Inc. increased its stake in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis in the 2nd quarter valued at approximately $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Up 1.0 %

NYSE:PLD opened at $118.94 on Wednesday. The business’s 50-day moving average is $125.31 and its two-hundred day moving average is $117.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The firm has a market capitalization of $110.12 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings data 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). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced 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. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 112.28%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was 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 in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of several research analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Truist Financial increased their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 target price on shares of Prologis in a report on Monday, July 15th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, 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 report on Monday. Eight investment 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’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

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.