Carmel Capital Partners LLC Acquires 94 Shares of Prologis, Inc. (NYSE:PLD)

Carmel Capital Partners LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,749 shares of the real estate investment trust’s stock after purchasing an additional 94 shares during the quarter. Carmel Capital Partners LLC’s holdings in Prologis were worth $473,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PLD. American Capital Advisory LLC purchased a new stake in Prologis during the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the 2nd quarter valued at about $27,000. Central Valley Advisors LLC purchased a new stake in Prologis during the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. grew its position in 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 purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Prologis during the 2nd quarter valued at about $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis 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 sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Barclays dropped their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Scotiabank dropped their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Morgan Stanley raised their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Price Performance

NYSE PLD opened at $115.83 on Friday. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The stock has a market cap of $107.28 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.98 and a beta of 1.08. The company’s 50 day moving average is $122.69 and its two-hundred day moving average is $117.58. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

Prologis 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.