LVW Advisors LLC Buys 5,553 Shares of Prologis, Inc. $PLD

LVW Advisors LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 108.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,666 shares of the real estate investment trust’s stock after acquiring an additional 5,553 shares during the quarter. LVW Advisors LLC’s holdings in Prologis were worth $1,221,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Clayton Financial Group LLC purchased a new stake in Prologis in the third quarter worth approximately $26,000. Barrett & Company Inc. bought a new position in shares of Prologis during the 2nd quarter valued at $44,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Prologis in the 2nd quarter worth $44,000. Toth Financial Advisory Corp bought a new stake in shares of Prologis in the third quarter worth $52,000. Finally, Sound Income Strategies LLC increased its position in Prologis by 32.1% during the third quarter. Sound Income Strategies LLC now owns 482 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 117 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of Prologis stock opened at $128.45 on Tuesday. The company has a market capitalization of $119.32 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 3.95 and a beta of 1.39. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $126.63 and its 200-day simple moving average is $116.26. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $131.70.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.21 billion for the quarter. As a group, analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Wall Street Analysts Forecast Growth

PLD has been the topic of several research reports. Industrial Alliance Securities set a $119.00 target price on Prologis in a research report on Monday, October 20th. Wells Fargo & Company raised their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. UBS Group set a $138.00 target price on shares of Prologis in a report on Thursday, December 4th. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Finally, Truist Financial reissued a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.00.

Insider Activity at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the transaction, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,621 shares of company stock valued at $198,655 over the last quarter. 0.57% of the stock is currently owned by insiders.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.