Gryphon Financial Partners LLC Buys 767 Shares of Prologis, Inc. (NYSE:PLD)

Gryphon Financial Partners LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 14.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,248 shares of the real estate investment trust’s stock after acquiring an additional 767 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Prologis were worth $702,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PLD. True Wealth Design LLC bought a new position in shares of Prologis during the fourth quarter worth $27,000. Optimum Investment Advisors acquired a new stake in Prologis during the 1st quarter worth $26,000. American Capital Advisory LLC bought a new position in Prologis during the second quarter worth about $26,000. Clear Investment Research LLC grew its stake in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares during the period. Finally, Central Valley Advisors LLC bought a new stake in shares of Prologis in the second quarter worth about $29,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD opened at $130.25 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $123.03 and its 200 day simple moving average is $118.81. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market cap of $120.59 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 3.27 and a beta of 1.07.

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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. Prologis’s payout ratio is 112.28%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Argus boosted their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Truist Financial increased their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Mizuho cut their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Seven research 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 stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $133.12.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.