Thrive Wealth Management LLC, a financial management company, has acquired a new stake in Prologis, Inc. (NYSE:PLD) during the second quarter of this year. In its most recent 13F filing with the Securities and Exchange Commission (SEC), Thrive Wealth Management disclosed acquiring 1,696 shares of Prologis’ stock. Valued at approximately $208,000, this acquisition indicates the company’s confidence in the real estate investment trust.
Prologis, a leading industrial real estate company, recently declared that it will be issuing a quarterly dividend. Shareholders of record on Monday, September 18th will receive a dividend of $0.87 per share on Friday, September 29th. With an annualized basis of $3.48 per share and a yield of 2.84%, this dividend demonstrates Prologis’ commitment to rewarding its shareholders.
Furthermore, it is worth noting that the ex-dividend date for this payment is set for Friday, September 15th. This means that any buyer who acquires these shares on or after this date will not be eligible to receive the upcoming dividend payout.
Prologis maintains a payout ratio of 91.58%, reflecting its dedication to distributing earnings back to investors through dividends. As one of the largest global providers of logistics real estate solutions, Prologis continues to attract attention from institutional investors like Thrive Wealth Management LLC.
In conclusion, Thrive Wealth Management LLC’s recent stake acquisition in Prologis speaks volumes about its confidence in the company’s prospects. Additionally, Prologis’ commitment to rewarding its shareholders through regular dividends further solidifies its position as an attractive investment choice within the real estate industry.
(Note: This article is purely informative and does not constitute financial advice.)
[bs_slider_forecast ticker=”AWI”]
Prologis, Inc. Sees Strong Investor Interest and Positive Analyst Outlook
September 19, 2023 – Prologis, Inc. (NYSE: PLD), a leading global real estate investment trust (REIT), has seen significant activity from various institutional investors and hedge funds altering their holdings of the stock. GPS Wealth Strategies Group LLC purchased a new position in Prologis shares during the first quarter for $25,000, while Sageworth Trust Co entered a stake valued at approximately $26,000 during the same period. Additionally, Headlands Technologies LLC acquired shares worth around $30,000 in the first quarter, and Edmond DE Rothschild Holding S.A. invested approximately $31,000 in Prologis shares during that period too. Lastly, Osterweis Capital Management Inc. bought a stake valued at $33,000 in the fourth quarter.
Institutional investors and hedge funds now own a staggering 90.90% of Prologis’ overall stock. These developments indicate growing confidence among industry professionals in the company’s potential for future success and solid returns.
Prologis has also been the focus of several research analyst reports that shed light on its current standing and future prospects. Truist Financial recently adjusted their price objective on Prologis shares from $140.00 to $135.00 according to a research report released on June 27th. Mizuho, another prominent financial institution, reaffirmed their “buy” rating on Prologis shares with a price objective of $140.00 on September 13th.
Morgan Stanley echoed optimism surrounding Prologis by maintaining an “overweight” rating along with a target price of $128.00 in their research note published on July 20th. BTIG Research went even further by raising their price target even more substantially from $152.00 to an impressive $154.00 as noted in their research report launched on July 19th.
Although there were mixed opinions among research analysts, the overall sentiment regarding Prologis appears to be quite positive. According to Bloomberg, fifteen equities research analysts have given the stock a “buy” rating, one has assigned it a strong buy rating, and three analysts have decided to hold their position. The consensus rating for Prologis is currently deemed as “Moderate Buy,” and the average price target stands at $140.65.
As of Tuesday’s opening, shares of Prologis on the New York Stock Exchange (NYSE: PLD) began trading at $122.70. The company holds a 50-day simple moving average of $123.69 and a 200-day simple moving average of $122.82. With a market capitalization of $113.36 billion, a relatively high price-to-earnings ratio of 32.29, and a beta value of 0.98, Prologis exhibits solid financial metrics compared to its industry peers.
Prologis operates within the real estate industry with holdings in industrial properties such as warehouses and distribution centers that cater to logistics and e-commerce businesses. The company has demonstrated resilience throughout the challenging economic conditions caused by the pandemic.
In its last quarterly earnings report issued on July 18th, Prologis reported earnings per share (EPS) of $1.83 for the quarter, surpassing analysts’ consensus estimates by $0.15 per share or nearly 10%. Furthermore, the company generated $2.45 billion in revenue during this period compared to analyst estimates of $1.72 billion—an impressive increase of 95.8% compared to the previous year’s quarter.
Moreover, Prologis boasted an enviable return on equity (ROE) of 6.17% and an impressive net margin of 42.52%, highlighting its excellent financial management strategies and profitability despite economic uncertainty.
Looking ahead, research analysts project that Prologis will continue to perform well, projecting earnings per share of 5.59 for the current fiscal year. These expectations reflect a positive outlook for the company’s future growth and sustainability.
In conclusion, Prologis, Inc. has seen notable activity from various institutional investors and hedge funds adjusting their positions in the stock. Research analysts have provided favorable ratings and price targets, emphasizing the company’s strong performance and potential. With solid financial metrics, an established presence in industrial real estate, and impressive quarterly earnings results, Prologis appears poised for continued success in the market.
Note: All information mentioned in this article is accurate as of September 19, 2023.
