Prologis, Inc. (NYSE:PLD) Shares Bought by Providence Capital Advisors LLC

Providence Capital Advisors LLC grew its position in shares of Prologis, Inc. (NYSE:PLD) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,705 shares of the real estate investment trust’s stock after purchasing an additional 816 shares during the period. Prologis makes up about 1.7% of Providence Capital Advisors LLC’s holdings, making the stock its 13th largest holding. Providence Capital Advisors LLC’s holdings in Prologis were worth $8,424,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. American Capital Advisory LLC acquired a new stake in shares of Prologis in the second quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new position in Prologis in the second quarter valued at $27,000. Central Valley Advisors LLC purchased a new position in Prologis in the second quarter valued at $29,000. Sunbelt Securities Inc. increased its holdings in Prologis by 640.0% in the second 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. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis in the second quarter valued at $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

NYSE PLD opened at $117.81 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The business’s 50-day moving average price is $119.09 and its 200 day moving average price is $118.61. The firm has a market cap of $109.11 billion, a P/E ratio of 35.59, a P/E/G ratio of 3.45 and a beta of 1.08.

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). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. On average, equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.26%. Prologis’s payout ratio is currently 116.01%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial increased their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Bank of America reissued a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Finally, Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.25.

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.