OneAscent Wealth Management LLC Boosts Stake in Prologis, Inc. (NYSE:PLD)

OneAscent Wealth Management LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 15.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,441 shares of the real estate investment trust’s stock after buying an additional 472 shares during the period. OneAscent Wealth Management LLC’s holdings in Prologis were worth $422,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PLD. GPS Wealth Strategies Group LLC purchased a new stake in shares of Prologis in the first quarter valued at $25,000. Sageworth Trust Co purchased a new stake in Prologis in the 1st quarter worth about $26,000. Headlands Technologies LLC bought a new stake in Prologis in the first quarter worth about $30,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Prologis during the first quarter valued at approximately $31,000. Finally, Centerpoint Advisors LLC bought a new position in shares of Prologis during the first quarter valued at approximately $34,000. Institutional investors own 90.90% of the company’s stock.

Prologis Stock Down 0.2 %

PLD traded down $0.28 during trading on Friday, hitting $123.18. The stock had a trading volume of 4,818,489 shares, compared to its average volume of 2,884,437. The stock has a 50 day simple moving average of $123.66 and a two-hundred day simple moving average of $122.82. The company has a market capitalization of $113.80 billion, a PE ratio of 32.42, a PEG ratio of 2.42 and a beta of 0.98. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. Prologis, Inc. has a twelve month low of $98.03 and a twelve month high of $136.67.

Prologis (NYSE:PLD) last announced its earnings results on Tuesday, July 18th. The real estate investment trust reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.15. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $1.72 billion. Prologis had a return on equity of 6.17% and a net margin of 42.52%. The firm’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 EPS. On average, research analysts predict that Prologis, Inc. will post 5.59 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, September 15th. Prologis’s dividend payout ratio is presently 91.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PLD shares. Truist Financial dropped their price objective on Prologis from $140.00 to $135.00 in a report on Tuesday, June 27th. BTIG Research boosted their target price on shares of Prologis from $152.00 to $154.00 in a research note on Wednesday, July 19th. Barclays reduced their price target on shares of Prologis from $160.00 to $159.00 in a research note on Wednesday, June 28th. Mizuho reissued a “buy” rating and issued a $140.00 price objective on shares of Prologis in a research report on Wednesday. Finally, 888 reaffirmed a “maintains” rating on shares of Prologis in a research report on Wednesday, June 28th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $140.65.

Insider Buying and Selling at Prologis

In other news, Director George L. Fotiades sold 10,711 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $123.98, for a total transaction of $1,327,949.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2023, 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 (114 million square meters) in 19 countries.