Avidian Wealth Enterprises LLC Invests $240,000 in Prologis, Inc. (NYSE:PLD)

Avidian Wealth Enterprises LLC purchased a new stake in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, HoldingsChannel reports. The fund purchased 1,898 shares of the real estate investment trust’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. Vanguard Group Inc. grew its holdings in shares of Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Prologis by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Principal Financial Group Inc. lifted its position in Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after acquiring an additional 167,131 shares in the last quarter. Centersquare Investment Management LLC boosted its stake in Prologis by 5.7% during the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after purchasing an additional 367,565 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Prologis by 16.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock worth $767,398,000 after purchasing an additional 958,914 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $114.22 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market cap of $105.79 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The firm’s 50-day simple moving average is $123.15 and its two-hundred day simple moving average is $117.52.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 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 business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

Analyst Ratings Changes

PLD has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Evercore ISI lifted 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. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Argus boosted their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $131.12.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The stock was 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 of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.

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.