Prologis, Inc. $PLD Shares Purchased by J.Safra Asset Management Corp

J.Safra Asset Management Corp raised its stake in Prologis, Inc. (NYSE:PLD) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,628 shares of the real estate investment trust’s stock after buying an additional 121 shares during the period. J.Safra Asset Management Corp’s holdings in Prologis were worth $172,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PLD. Brighton Jones LLC increased its holdings in shares of Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after buying an additional 15,078 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Prologis by 19.6% in the first quarter. GAMMA Investing LLC now owns 11,926 shares of the real estate investment trust’s stock valued at $1,333,000 after buying an additional 1,956 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Prologis by 9.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 55,605 shares of the real estate investment trust’s stock valued at $6,216,000 after buying an additional 4,851 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of Prologis by 3.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust’s stock valued at $615,000 after buying an additional 167 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Prologis by 17.2% in the first quarter. Exchange Traded Concepts LLC now owns 7,066 shares of the real estate investment trust’s stock valued at $790,000 after buying an additional 1,035 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and upped their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. UBS Group boosted their target price on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Barclays cut their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Evercore ISI boosted their target price on shares of Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.58.

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $2,952,095 over the last ninety days. 0.57% of the stock is currently owned by company insiders.

Prologis Trading Up 2.4%

NYSE PLD opened at $115.44 on Wednesday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. 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 company has a market capitalization of $107.20 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The firm’s fifty day simple moving average is $112.11 and its 200-day simple moving average is $107.80.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $1.34 earnings per share. Prologis’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. Prologis’s dividend payout ratio is 109.49%.

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.