Kingsview Wealth Management LLC Has $2.55 Million Holdings in Prologis, Inc. (NYSE:PLD)

Kingsview Wealth Management LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,579 shares of the real estate investment trust’s stock after selling 244 shares during the period. Kingsview Wealth Management LLC’s holdings in Prologis were worth $2,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in Prologis during the 4th quarter worth about $27,000. Optimum Investment Advisors acquired a new position in shares of Prologis in the 1st quarter valued at about $26,000. Thompson Investment Management Inc. acquired a new position in shares of Prologis in the 4th quarter valued at about $28,000. JFS Wealth Advisors LLC increased its holdings in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the period. Finally, Clear Investment Research LLC increased its holdings in shares of Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLD. Mizuho dropped their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Robert W. Baird dropped their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. UBS Group dropped their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Argus dropped their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.44.

Prologis Stock Performance

Shares of PLD traded up $1.13 during mid-day trading on Friday, hitting $123.75. The company’s stock had a trading volume of 3,483,669 shares, compared to its average volume of 3,529,909. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.10. The firm has a market capitalization of $114.57 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 2.90 and a beta of 1.06. The stock’s 50-day moving average is $111.97 and its two-hundred day moving average is $120.30.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s revenue was down 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.83 earnings per share. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.10%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

About Prologis

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.