Diversify Wealth Management LLC Invests $1.21 Million in Prologis, Inc. $PLD

Diversify Wealth Management LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,728 shares of the real estate investment trust's stock, valued at approximately $1,212,000.

A number of other large investors also recently added to or reduced their stakes in PLD. Norges Bank purchased a new position in shares of Prologis in the fourth quarter worth $1,589,125,000. Cardano Risk Management B.V. grew its stake in Prologis by 999.3% during the fourth quarter. Cardano Risk Management B.V. now owns 11,228,730 shares of the real estate investment trust's stock valued at $1,433,460,000 after acquiring an additional 10,207,267 shares in the last quarter. Swedbank AB increased its holdings in Prologis by 36.2% in the 4th quarter. Swedbank AB now owns 7,664,583 shares of the real estate investment trust's stock valued at $978,461,000 after acquiring an additional 2,038,329 shares during the last quarter. Bessemer Group Inc. increased its holdings in Prologis by 8,000.9% in the 4th quarter. Bessemer Group Inc. now owns 1,595,963 shares of the real estate investment trust's stock valued at $203,741,000 after acquiring an additional 1,576,262 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Prologis by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 123,323,290 shares of the real estate investment trust's stock worth $15,743,451,000 after purchasing an additional 1,258,407 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 0.7%

NYSE PLD opened at $143.46 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average of $142.87 and a two-hundred day moving average of $137.67. The firm has a market capitalization of $133.75 billion, a price-to-earnings ratio of 36.14 and a beta of 1.32. Prologis, Inc. has a 52 week low of $103.41 and a 52 week high of $150.18.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.24. Prologis had a net margin of 41.54% and a return on equity of 6.47%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the business earned $1.43 EPS. The business's revenue was up 6.9% on a year-over-year basis. On average, analysts predict that Prologis, Inc. will post 6.17 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, June 16th. Prologis's payout ratio is 107.81%.

Insider Activity

In other news, CFO Timothy D. Arndt sold 3,597 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on PLD. Morgan Stanley increased their price objective on shares of Prologis from $135.00 to $151.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. Evercore set a $135.00 target price on Prologis in a research report on Friday, April 17th. DA Davidson increased their price target on Prologis from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Argus raised their price target on Prologis from $135.00 to $152.00 and gave the company a "buy" rating in a report on Friday, April 17th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $157.00 price objective on shares of Prologis in a research note on Friday, April 17th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $152.00.

Prologis Company 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.

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