Sterling Investment Counsel LLC Has $1.35 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Sterling Investment Counsel LLC grew its position in shares of Prologis, Inc. (NYSE:PLD) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,653 shares of the real estate investment trust’s stock after purchasing an additional 620 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Prologis were worth $1,345,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PLD. American Capital Advisory LLC acquired a new stake in shares of Prologis during the second quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the second quarter worth about $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the second quarter worth about $29,000. Sunbelt Securities Inc. raised its position in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis during the second quarter worth about $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Up 0.9 %

Shares of NYSE PLD traded up $1.07 during trading hours on Wednesday, hitting $120.01. The company’s stock had a trading volume of 802,455 shares, compared to its average volume of 3,628,863. The business has a 50-day simple moving average of $125.31 and a 200-day simple moving average of $117.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $111.11 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.20%. Prologis’s payout ratio is 112.28%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial lifted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. BMO Capital Markets restated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. cut their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

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.