Opal Wealth Advisors LLC Buys 1,846 Shares of Prologis, Inc. $PLD

Opal Wealth Advisors LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 173.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,912 shares of the real estate investment trust’s stock after acquiring an additional 1,846 shares during the period. Opal Wealth Advisors LLC’s holdings in Prologis were worth $306,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Alley Investment Management Company LLC grew its position in shares of Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock valued at $12,111,000 after buying an additional 54,914 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Prologis during the 1st quarter valued at about $2,120,000. First Citizens Bank & Trust Co. boosted its position in shares of Prologis by 1,451.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock valued at $3,486,000 after purchasing an additional 29,170 shares in the last quarter. Truist Financial Corp boosted its position in shares of Prologis by 9.3% during the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock valued at $33,232,000 after purchasing an additional 25,229 shares in the last quarter. Finally, Ally Financial Inc. boosted its position in shares of Prologis by 16.7% during the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis 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 sale, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Prologis Price Performance

Prologis stock opened at $114.15 on Tuesday. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The business has a fifty day moving average price of $109.95 and a 200-day moving average price of $107.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $105.96 billion, a P/E ratio of 30.93, a PEG ratio of 2.87 and a beta of 1.26.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the company earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis’s dividend payout ratio (DPR) is currently 109.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Mizuho set a $118.00 target price on Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. UBS Group increased their price target on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an “overweight” rating in a report on Sunday, July 13th. Finally, Barclays cut their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis 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.