McKinley Carter Wealth Services Inc. Sells 133 Shares of Prologis, Inc. $PLD

McKinley Carter Wealth Services Inc. trimmed its position in Prologis, Inc. (NYSE:PLD) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,149 shares of the real estate investment trust’s stock after selling 133 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Prologis were worth $436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Activest Wealth Management raised its holdings in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. bought a new position in Prologis in the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new position in Prologis in the 1st quarter valued at about $34,000. Saudi Central Bank bought a new position in Prologis in the 1st quarter valued at about $41,000. Finally, Olde Wealth Management LLC bought a new position in Prologis in the 1st quarter valued at about $43,000. 93.50% of the stock is owned by institutional investors.

Insider Activity at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director owned 9,329 shares in the company, valued at $1,079,272.01. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 in the last quarter. 0.57% of the stock is currently owned by company insiders.

Prologis Stock Performance

NYSE PLD opened at $111.29 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $103.35 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 2.89 and a beta of 1.28. The firm’s 50 day simple moving average is $111.79 and its 200 day simple moving average is $107.78. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. Prologis’s dividend payout ratio (DPR) is currently 109.49%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a report on Wednesday. Mizuho set a $118.00 price target on shares of Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an “overweight” rating in a report on Sunday, July 13th. Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Finally, Evercore ISI raised their target price on shares of Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $122.58.

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.