Verdence Capital Advisors LLC Raises Stake in Prologis, Inc. (NYSE:PLD)

Verdence Capital Advisors LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 131.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,283 shares of the real estate investment trust’s stock after buying an additional 5,833 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Prologis were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Capital Advisory LLC purchased a new stake in Prologis in the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. bought a new stake in Prologis in the second quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new stake in Prologis in the second quarter valued at approximately $29,000. Sunbelt Securities Inc. lifted its position in Prologis by 640.0% in the second 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 during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in Prologis in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.4 %

Prologis stock opened at $115.83 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The stock has a market capitalization 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. The business’s fifty day moving average is $122.69 and its 200 day moving average is $117.58.

Prologis (NYSE:PLD) last issued 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 return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company earned $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.32%. Prologis’s payout ratio is presently 116.01%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent research reports. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Barclays lowered their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Truist Financial upped 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. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $131.12.

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.