27,796 Shares in Prologis, Inc. (NYSE:PLD) Purchased by TriaGen Wealth Management LLC

TriaGen Wealth Management LLC bought a new position in Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,796 shares of the real estate investment trust’s stock, valued at approximately $3,510,000. Prologis comprises about 1.2% of TriaGen Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position.

Other large investors also recently modified their holdings of the company. Arbor Capital Management Inc. ADV grew its position in Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after buying an additional 87 shares during the period. CX Institutional grew its position in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the period. Mitchell Sinkler & Starr PA grew its position in Prologis by 5.1% during 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 buying an additional 90 shares during the period. Destination Wealth Management grew its position in Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 92 shares during the period. Finally, Tiemann Investment Advisors LLC grew its position in Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 100 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Prologis stock traded down $0.20 during mid-day trading on Friday, reaching $122.50. 3,690,933 shares of the company’s stock traded hands, compared to its average volume of 3,642,941. The company has a market cap of $113.42 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 3.05 and a beta of 1.07. The stock has a 50 day moving average of $125.43 and a two-hundred day moving average of $117.72. 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, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company earned $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction 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 transaction, 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 SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Evercore ISI lifted their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. The Goldman Sachs Group lifted their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Finally, Argus lifted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $132.71.

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.