Keudell Morrison Wealth Management Makes New $358,000 Investment in Prologis, Inc. (NYSE:PLD)

Keudell Morrison Wealth Management acquired a new stake in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,833 shares of the real estate investment trust’s stock, valued at approximately $358,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Jackson Square Capital LLC acquired a new stake in shares of Prologis during the 3rd quarter valued at approximately $477,000. Graypoint LLC increased its stake in Prologis by 31.9% during the third quarter. Graypoint LLC now owns 4,714 shares of the real estate investment trust’s stock valued at $595,000 after purchasing an additional 1,141 shares during the last quarter. Umpqua Bank raised its holdings in shares of Prologis by 3.7% during the third quarter. Umpqua Bank now owns 5,015 shares of the real estate investment trust’s stock worth $633,000 after purchasing an additional 180 shares during the period. Harvest Portfolios Group Inc. lifted its position in shares of Prologis by 94.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 8,345 shares of the real estate investment trust’s stock worth $1,054,000 after buying an additional 4,054 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC acquired a new position in shares of Prologis in the 3rd quarter valued at about $240,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PLD. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Morgan Stanley raised their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company raised their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Price Performance

NYSE:PLD traded up $0.57 during trading hours on Thursday, reaching $114.31. 251,955 shares of the company’s stock were exchanged, compared to its average volume of 3,637,248. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $105.87 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.97 and a beta of 1.08. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The business’s 50-day simple moving average is $123.15 and its two-hundred day simple moving average is $117.52.

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). The company 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%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.36%. Prologis’s payout ratio is presently 116.01%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

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.