Smith Salley Wealth Management Has $982,000 Stake in Prologis, Inc. $PLD

Smith Salley Wealth Management raised its holdings in Prologis, Inc. (NYSE:PLD) by 2.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,338 shares of the real estate investment trust’s stock after buying an additional 265 shares during the quarter. Smith Salley Wealth Management’s holdings in Prologis were worth $982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management grew its holdings in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares during the last quarter. Pandora Wealth Inc. acquired a new stake in Prologis in the 1st quarter valued at approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in Prologis in the 1st quarter valued at approximately $34,000. Saudi Central Bank acquired a new stake in Prologis in the 1st quarter valued at approximately $41,000. Finally, Olde Wealth Management LLC acquired a new stake in Prologis in the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $114.27 on Monday. 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 company has a market capitalization of $106.07 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The business has a 50 day simple moving average of $110.41 and a 200 day simple moving average of $107.46.

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

Prologis Announces Dividend

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

Insider Activity at Prologis

In other Prologis 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 value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the director owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PLD shares. Mizuho set a $118.00 target price on Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Evercore ISI lifted their price objective on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Finally, Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.58.

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.