Frank Rimerman Advisors LLC Has $1.01 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Frank Rimerman Advisors LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,997 shares of the real estate investment trust’s stock after purchasing an additional 381 shares during the period. Frank Rimerman Advisors LLC’s holdings in Prologis were worth $1,010,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Semmax Financial Advisors Inc. acquired a new position in Prologis during the 2nd quarter worth about $27,000. American Capital Advisory LLC bought a new stake in Prologis in the second quarter valued at approximately $26,000. Central Valley Advisors LLC acquired a new stake in Prologis during the 2nd quarter valued at approximately $29,000. Sunbelt Securities Inc. raised its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis in the 2nd quarter worth approximately $31,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PLD shares. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. decreased their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Eight research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Performance

NYSE PLD opened at $117.54 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $108.82 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a fifty day moving average price of $125.06 and a 200-day moving average price of $117.41.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share. As a group, equities research analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction 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 transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

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.