Embree Financial Group Takes $218,000 Position in Prologis, Inc. (NYSE:PLD)

Embree Financial Group acquired a new stake in Prologis, Inc. (NYSE:PLD) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,726 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Other hedge funds have also made changes to their positions in the company. Semmax Financial Advisors Inc. purchased a new position in shares of Prologis in the 2nd quarter valued at about $27,000. American Capital Advisory LLC purchased a new position in Prologis during the 2nd quarter worth approximately $26,000. Central Valley Advisors LLC purchased a new position in Prologis during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.2 %

PLD opened at $122.50 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $125.43 and a 200-day simple moving average of $117.66. The stock has a market capitalization of $113.42 billion, a P/E ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.13%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research reports. Barclays dropped their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Argus raised their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group increased their price objective on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Seven 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.71.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’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 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 $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by company 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.