Sequoia Financial Advisors LLC Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Sequoia Financial Advisors LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 37.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,330 shares of the real estate investment trust’s stock after purchasing an additional 3,929 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Prologis were worth $1,810,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the second quarter valued at approximately $27,000. American Capital Advisory LLC purchased a new position in Prologis during the 2nd quarter worth $26,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis in the 2nd quarter worth $29,000. Sunbelt Securities Inc. boosted its holdings in shares of 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 acquiring an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the second quarter worth about $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s 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 approximately $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of analyst reports. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Scotiabank raised their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $131.47.

Prologis Price Performance

PLD stock opened at $120.39 on Friday. The stock’s 50 day moving average price is $125.26 and its 200 day moving average price is $117.54. The firm has a market cap of $111.46 billion, a P/E ratio of 35.20, a PEG ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last issued 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 during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, sell-side analysts expect that Prologis, Inc. will post 5.42 earnings per share 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 issued a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.19%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.