Executive Wealth Management LLC Lowers Stake in Prologis, Inc. (NYSE:PLD)

Executive Wealth Management LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 91,552 shares of the real estate investment trust’s stock after selling 561 shares during the period. Prologis accounts for approximately 1.5% of Executive Wealth Management LLC’s portfolio, making the stock its 19th biggest holding. Executive Wealth Management LLC’s holdings in Prologis were worth $11,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Argus increased their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Stock Performance

Shares of NYSE:PLD opened at $115.83 on Friday. The firm’s 50 day simple moving average is $122.69 and its 200-day simple moving average is $117.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The firm has a market cap of $107.28 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 earnings per share. As a group, equities analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The company also recently announced 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 dividend yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated 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 sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

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.