Prologis, Inc. (NYSE:PLD) Shares Sold by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 4.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,337 shares of the real estate investment trust’s stock after selling 780 shares during the period. Tandem Capital Management Corp ADV’s holdings in Prologis were worth $2,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of PLD. Brookstone Capital Management purchased a new position in Prologis during the first quarter worth about $222,000. Norden Group LLC boosted its stake in Prologis by 1,405.9% during the first quarter. Norden Group LLC now owns 65,416 shares of the real estate investment trust’s stock worth $8,518,000 after buying an additional 61,072 shares during the period. Advisor Resource Council purchased a new position in Prologis during the first quarter worth about $442,000. Legacy Wealth Asset Management LLC boosted its stake in Prologis by 2.9% during the first quarter. Legacy Wealth Asset Management LLC now owns 7,167 shares of the real estate investment trust’s stock worth $933,000 after buying an additional 204 shares during the period. Finally, American National Bank & Trust Co. VA purchased a new position in shares of Prologis in the first quarter valued at approximately $418,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE:PLD opened at $115.90 on Thursday. The firm has a 50 day moving average of $124.58 and a 200-day moving average of $117.36. The stock has a market capitalization of $107.31 billion, a PE ratio of 35.02, a PEG ratio of 3.05 and a beta of 1.07. 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, Inc. has a 12 month low of $98.82 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings results 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). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the company posted $1.30 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial boosted their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Evercore ISI increased their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.12.

Prologis Company Profile

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.