Clear Creek Financial Management LLC Has $322,000 Holdings in Prologis, Inc. (NYSE:PLD)

by · The Markets Daily

Clear Creek Financial Management LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 5.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,550 shares of the real estate investment trust’s stock after selling 159 shares during the period. Clear Creek Financial Management LLC’s holdings in Prologis were worth $322,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the second quarter valued at approximately $27,000. American Capital Advisory LLC acquired a new stake in shares of Prologis in the second quarter valued at $26,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter valued at $29,000. Sunbelt Securities Inc. increased its stake in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis in the second quarter valued at $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.4 %

Shares of Prologis stock opened at $113.86 on Tuesday. The business’s 50 day simple moving average is $123.71 and its 200 day simple moving average is $117.47. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The firm has a market cap of $105.45 billion, a PE ratio of 34.40, a P/E/G ratio of 2.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.36 and a current ratio of 0.43.

Prologis (NYSE:PLD – Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business posted $1.30 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Wells Fargo & Company raised their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Barclays reduced their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

View Our Latest Research Report on Prologis

Prologis Company Profile

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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 (115 million square meters) in 19 countries.

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