Prologis, Inc. (NYSE:PLD) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,187 shares of the real estate investment trust’s stock after buying an additional 1,088 shares during the period. Kingsview Wealth Management LLC’s holdings in Prologis were worth $2,676,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PLD. Swedbank AB boosted its stake in Prologis by 9.2% during the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Sunflower Bank N.A. bought a new stake in Prologis in the third quarter worth about $249,000. Cetera Advisors LLC raised its position in Prologis by 118.7% in the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after acquiring an additional 20,623 shares in the last quarter. Finally, Abundance Wealth Counselors bought a new position in shares of Prologis during the 2nd quarter valued at about $973,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent research reports. Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, October 25th. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley lifted their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company increased their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Stock Performance

Shares of PLD opened at $115.80 on Monday. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $107.25 billion, a PE ratio of 34.98, a PEG ratio of 3.00 and a beta of 1.08. The company’s 50 day moving average price is $119.75 and its 200 day moving average price is $118.48.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS 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 for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 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.