Koa Wealth Management LLC Acquires Shares of 11,655 Prologis, Inc. $PLD

Koa Wealth Management LLC bought a new position in Prologis, Inc. (NYSE:PLDFree Report) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 11,655 shares of the real estate investment trust’s stock, valued at approximately $1,335,000.

A number of other large investors have also recently modified their holdings of the stock. Brighton Jones LLC raised its stake in Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after buying an additional 15,078 shares in the last quarter. Sunflower Bank N.A. grew its holdings in shares of Prologis by 3.9% during the 2nd quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust’s stock worth $284,000 after acquiring an additional 100 shares during the period. Sovran Advisors LLC raised its position in shares of Prologis by 20.7% in the 2nd quarter. Sovran Advisors LLC now owns 2,915 shares of the real estate investment trust’s stock worth $311,000 after acquiring an additional 499 shares in the last quarter. Focus Financial Network Inc. raised its position in shares of Prologis by 20.1% in the 2nd quarter. Focus Financial Network Inc. now owns 2,514 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 421 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Prologis by 5.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 312,321 shares of the real estate investment trust’s stock valued at $32,831,000 after purchasing an additional 14,895 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $132.57 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $134.05. The firm’s 50-day moving average is $127.71 and its 200 day moving average is $118.21. The stock has a market cap of $123.14 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 3.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64.

Prologis (NYSE:PLDGet Free Report) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $2.21 billion during the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, December 16th. Prologis’s payout ratio is presently 117.78%.

Analyst Ratings Changes

Several brokerages recently weighed in on PLD. Scotiabank raised Prologis from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $133.00 to $146.00 in a research note on Wednesday. Evercore ISI boosted their target price on shares of Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. Barclays reiterated an “overweight” rating and issued a $139.00 price target on shares of Prologis in a research note on Tuesday. UBS Group lifted their price target on shares of Prologis from $137.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Truist Financial restated a “buy” rating and issued a $131.00 price objective (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.18.

Check Out Our Latest Stock Analysis on Prologis

More Prologis News

Here are the key news stories impacting Prologis this week:

Insider Activity at Prologis

In other Prologis news, Director James B. Connor sold 80,000 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 81,121 shares of company stock worth $10,267,210 over the last ninety days. 0.57% of the stock is currently owned by insiders.

About Prologis

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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