Prologis, Inc. (NYSE:PLD) Position Trimmed by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its stake in Prologis, Inc. (NYSE:PLD) by 6.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,457 shares of the real estate investment trust’s stock after selling 873 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Prologis were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. ASB Consultores LLC grew its holdings in shares of Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares in the last quarter. Arbor Capital Management Inc. ADV increased its position in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares during the last quarter. CX Institutional raised its stake in shares of Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA grew its stake in shares of Prologis by 5.1% in the 2nd 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 in the last quarter. Finally, Destination Wealth Management increased its holdings in Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 92 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Truist Financial lowered their price target on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Prologis presently has an average rating of “Hold” and an average target price of $128.88.

Prologis Stock Performance

Shares of NYSE PLD opened at $108.87 on Tuesday. Prologis, Inc. has a one year low of $101.11 and a one year high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $116.22 and a 200 day simple moving average of $119.21. The firm has a market capitalization of $100.83 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 3.27 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.96 per share. The ex-dividend date is Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.53%. Prologis’s dividend payout ratio is 116.01%.

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.