Prologis, Inc. (NYSE:PLD) Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 46.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,973 shares of the real estate investment trust’s stock after selling 14,446 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Prologis were worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. American Capital Advisory LLC purchased a new position in Prologis in the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. purchased a new position in Prologis during the second quarter worth approximately $27,000. Central Valley Advisors LLC purchased a new position in Prologis during the second quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its stake in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Prologis in the 2nd quarter valued at $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD stock opened at $119.68 on Wednesday. The business has a 50 day simple moving average of $125.31 and a 200-day simple moving average of $117.51. The company has a market capitalization of $110.81 billion, a P/E ratio of 34.78, a PEG ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. As a group, equities analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the 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 completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PLD has been the topic of several recent research reports. Barclays lowered their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Argus lifted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Wells Fargo & Company boosted their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

About Prologis

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.