Hohimer Wealth Management LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Hohimer Wealth Management LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,826 shares of the real estate investment trust’s stock, valued at approximately $231,000.

Several other large investors have also recently added to or reduced their stakes in PLD. American Capital Advisory LLC acquired a new stake in shares of Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the 2nd quarter valued at about $27,000. Sunbelt Securities Inc. grew its position in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Prologis during the second quarter worth about $31,000. Finally, Dunhill Financial LLC lifted its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 1.0 %

Prologis stock opened at $111.97 on Thursday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $103.70 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The firm has a 50 day simple moving average of $117.12 and a 200-day simple moving average of $119.06.

Prologis (NYSE:PLD) last issued 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 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Raymond James reaffirmed an “outperform” rating and issued a $125.00 target price (down from $130.00) on shares of Prologis in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Evercore ISI increased their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Prologis currently has an average rating of “Hold” and a consensus target price of $128.88.

Prologis Company 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.