Beacon Financial Advisory LLC has significantly increased its investment in Prologis, Inc. (NYSE: PLD), raising its stake by 178.2% during the third quarter of 2023. According to a recent Form 13F filing with the U.S. Securities and Exchange Commission (SEC), the firm now holds 11,800 shares of the real estate investment trust (REIT), following the acquisition of an additional 7,559 shares during this period. As of the latest filing, Beacon’s holdings in Prologis are valued at approximately $1.35 million.
Several other institutional investors have also adjusted their positions in Prologis. Notably, Clayton Financial Group LLC entered a new position valued at around $26,000 in the third quarter. Similarly, Silver Oak Securities Incorporated acquired a stake valued at about $36,000. Additionally, Barrett & Company Inc. and Twin Peaks Wealth Advisors LLC both purchased new shares in the second quarter, each worth approximately $44,000. Hedge funds and institutional investors collectively own 93.50% of Prologis stock.
Analyst Ratings and Performance
The stock has drawn positive attention from various brokerages. Barclays reaffirmed an “overweight” rating with a price target of $139.00, while BTIG Research increased its target price from $134.00 to $155.00, maintaining a “buy” rating. UBS Group also raised its price objective from $137.00 to $144.00, indicating a bullish outlook on the company. In contrast, Baird R W downgraded Prologis from a “strong-buy” rating to a “hold” rating, reflecting a cautious stance.
Currently, Prologis has a consensus rating of “Moderate Buy” with a target price of $132.31, according to data from MarketBeat. Analysts have issued one “strong buy,” eleven “buy,” and seven “hold” ratings for the stock.
In terms of stock performance, shares of Prologis opened at $133.21 on a recent trading day. The company has achieved a fifty-day moving average of $127.86 and a two-hundred-day moving average of $118.49. Prologis, with a market capitalization of $123.74 billion, has a price-to-earnings (P/E) ratio of 38.84 and a beta of 1.40.
Insider Transactions and Recent Earnings
Recent insider activity at Prologis includes transactions by Director Cristina Gabriela Bita, who sold 621 shares for a total value of $79,239.60 on December 1, 2023. Following this sale, she retained 8,208 shares valued at approximately $1,047,340.80. Additionally, Director James B. Connor sold 80,000 shares on October 24, 2023, for a total of $10,126,400.00. Insiders collectively sold 81,121 shares worth $10,267,210 over the last quarter, with company insiders owning only 0.57% of the stock.
Prologis recently reported its quarterly earnings results on October 28, 2023, posting earnings of $0.82 per share and revenues of $2.21 billion. The company achieved a return on equity of 5.55% and a net margin of 36.71%. Analysts forecast Prologis will report earnings of $5.73 per share for the current fiscal year.
Additionally, Prologis declared a quarterly dividend of $1.01, which was paid on December 31, 2023, to shareholders of record as of December 16, 2023. This represents an annualized dividend of $4.04 and yields approximately 3.0%. The ex-dividend date for this payment was also December 16, 2023. Prologis’s dividend payout ratio stands at 117.78%.
As a leading real estate investment trust, Prologis focuses on logistics and distribution facilities, managing high-quality industrial real estate assets that support supply chain infrastructure for a diverse range of clients, including e-commerce businesses and manufacturers. With a global presence, the company plays a critical role in optimizing goods movement and storage near essential transportation hubs.
