McKinley Carter Wealth Services Inc. Has $436,000 Stock Position in Prologis, Inc. $PLD

McKinley Carter Wealth Services Inc. lowered its stake in Prologis, Inc. (NYSE:PLD) by 3.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,149 shares of the real estate investment trust’s stock after selling 133 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Prologis were worth $436,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Michael S. Ryan Inc. boosted its position in Prologis by 2.9% in the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 94 shares in the last quarter. LaSalle St. Investment Advisors LLC raised its stake in shares of Prologis by 3.7% during the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 96 shares during the last quarter. Van Hulzen Asset Management LLC raised its stake in shares of Prologis by 5.6% during the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock valued at $201,000 after acquiring an additional 96 shares during the last quarter. Sandler Capital Management raised its stake in shares of Prologis by 5.3% during the first quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 100 shares during the last quarter. Finally, Sunflower Bank N.A. raised its stake in shares of Prologis by 3.9% during the second quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares in the company, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Mizuho set a $118.00 price target on shares of Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research note on Wednesday. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and raised their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an “overweight” rating in a research note on Sunday, July 13th. Finally, Citigroup dropped their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

Prologis Stock Down 2.8%

Shares of NYSE PLD opened at $111.29 on Friday. The stock has a market capitalization of $103.35 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.89 and a beta of 1.28. The company has a 50-day moving average price of $111.79 and a 200-day moving average price of $107.78. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business’s revenue 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. On average, equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.6%. Prologis’s payout ratio is 109.49%.

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.