Ashton Thomas Private Wealth LLC Buys 157 Shares of Prologis, Inc. (NYSE:PLD)

Ashton Thomas Private Wealth LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,390 shares of the real estate investment trust’s stock after buying an additional 157 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Prologis were worth $2,827,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Swedbank AB purchased a new stake in shares of Prologis in the 1st quarter valued at $596,614,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Prologis in the 2nd quarter worth about $203,223,000. Vanguard Group Inc. lifted its position in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. AMF Tjanstepension AB lifted its position in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after acquiring an additional 1,358,542 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of analyst reports. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. JPMorgan Chase & Co. dropped their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Scotiabank cut their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Eight equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.12.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was 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. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

Shares of PLD opened at $112.75 on Wednesday. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The firm has a market cap of $104.43 billion, a PE ratio of 34.06, a PEG ratio of 3.04 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm’s 50 day moving average price is $122.42 and its 200 day moving average price is $117.85.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company 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 business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. As a group, research analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

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.