Meeder Advisory Services Inc. Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Meeder Advisory Services Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 24.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,771 shares of the real estate investment trust’s stock after acquiring an additional 3,292 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Prologis were worth $1,884,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PLD. Oppenheimer & Co. Inc. grew its holdings in Prologis by 11.5% during the second quarter. Oppenheimer & Co. Inc. now owns 60,566 shares of the real estate investment trust’s stock worth $6,802,000 after acquiring an additional 6,249 shares during the period. Wambolt & Associates LLC grew its stake in shares of Prologis by 1.1% during the 2nd quarter. Wambolt & Associates LLC now owns 22,208 shares of the real estate investment trust’s stock worth $2,486,000 after purchasing an additional 238 shares during the period. Johnson Investment Counsel Inc. increased its holdings in shares of Prologis by 12.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 16,482 shares of the real estate investment trust’s stock valued at $1,851,000 after purchasing an additional 1,874 shares in the last quarter. Mitchell Sinkler & Starr PA lifted its stake in shares of Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 90 shares during the period. Finally, LPL Financial LLC boosted its holdings in Prologis by 34.1% during the second quarter. LPL Financial LLC now owns 656,703 shares of the real estate investment trust’s stock worth $73,754,000 after buying an additional 166,830 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of several research analyst reports. Wells Fargo & Company boosted 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. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Barclays raised their price target on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Finally, Truist Financial increased their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $133.12.

Insider Buying and Selling

In other Prologis 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 completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Down 0.3 %

Shares of PLD opened at $130.35 on Friday. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company’s fifty day moving average is $124.11 and its two-hundred day moving average is $118.96. The firm has a market cap of $120.68 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business posted $1.83 EPS. Prologis’s revenue was down 18.1% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.