Diversify Wealth Management LLC Acquires Shares of 8,728 Prologis, Inc. $PLD

Diversify Wealth Management LLC bought a new position in Prologis, Inc. (NYSE:PLD) during the first quarter, Holdings Channel.com reports. The fund bought 8,728 shares of the real estate investment trust’s stock, valued at approximately $1,212,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. High Point Wealth Management LLC bought a new stake in shares of Prologis in the fourth quarter valued at about $26,000. Ares Financial Consulting LLC purchased a new position in Prologis during the 4th quarter valued at about $26,000. Eagle Bay Advisors LLC purchased a new position in Prologis during the 4th quarter valued at about $27,000. SouthState Bank Corp raised its holdings in shares of Prologis by 73.1% in the 4th quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 95 shares in the last quarter. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Prologis in the 4th quarter valued at about $29,000. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Prologis from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Raymond James Financial started coverage on shares of Prologis in a research note on Thursday, June 18th. They issued a “market perform” rating for the company. Morgan Stanley upped their target price on Prologis from $135.00 to $151.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Jefferies Financial Group dropped their target price on Prologis from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Truist Financial lifted their price target on Prologis from $139.00 to $154.00 and gave the company a “buy” rating in a report on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.00.

Insiders Place Their Bets

In other news, CFO Timothy D. Arndt sold 3,597 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $143.46 on Thursday. The business’s fifty day simple moving average is $142.87 and its 200-day simple moving average is $137.67. The company has a market cap of $133.75 billion, a PE ratio of 36.14 and a beta of 1.32. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.60. Prologis, Inc. has a 12-month low of $103.41 and a 12-month high of $150.18.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.24. Prologis had a return on equity of 6.47% and a net margin of 41.54%.The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the firm earned $1.43 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that Prologis, Inc. will post 6.17 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Prologis’s dividend payout ratio (DPR) is currently 107.81%.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.