MOR Wealth Management LLC purchased a new stake in Prologis, Inc. (NYSE:PLD – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,002 shares of the real estate investment trust’s stock, valued at approximately $1,220,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Manning & Napier Advisors LLC bought a new position in shares of Prologis in the second quarter valued at $25,000. Solstein Capital LLC bought a new stake in Prologis during the second quarter worth $25,000. Clearstead Trust LLC acquired a new stake in Prologis in the second quarter valued at $28,000. Johnson Financial Group Inc. bought a new position in shares of Prologis in the 2nd quarter valued at about $29,000. Finally, SouthState Bank Corp grew its position in shares of Prologis by 73.1% in the 4th quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 95 shares during the period. Institutional investors own 93.50% of the company’s stock.
Prologis Trading Down 0.7%
Shares of PLD stock opened at $137.42 on Friday. The stock has a market cap of $128.22 billion, a P/E ratio of 30.61 and a beta of 1.30. Prologis, Inc. has a 1 year low of $110.60 and a 1 year high of $153.35. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $142.06 and a 200 day simple moving average of $140.58.
Prologis Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, September 16th. Prologis’s payout ratio is 95.32%.
Insiders Place Their Bets
In other Prologis news, CFO Timothy Arndt sold 3,597 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. BTIG Research upped their target price on shares of Prologis from $160.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Barclays boosted their price target on Prologis from $139.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Morgan Stanley upped their price objective on Prologis from $135.00 to $151.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Raymond James Financial assumed coverage on Prologis in a research report on Thursday, June 18th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets decreased their target price on Prologis from $162.00 to $158.00 and set an “outperform” rating on the stock in a report on Monday, June 29th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.52.
View Our Latest Stock Report on PLD
Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.
With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.
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