Hartford Financial Management Inc. Decreases Holdings in Prologis, Inc. (NYSE:PLD)

Hartford Financial Management Inc. lowered its stake in Prologis, Inc. (NYSE:PLD) by 1.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,227 shares of the real estate investment trust’s stock after selling 264 shares during the quarter. Hartford Financial Management Inc.’s holdings in Prologis were worth $2,175,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Capital Advisory LLC purchased a new stake in Prologis in the 2nd quarter valued at approximately $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the 2nd quarter valued at approximately $27,000. Central Valley Advisors LLC purchased a new stake in Prologis in the 2nd quarter valued at approximately $29,000. Sunbelt Securities Inc. lifted its stake in Prologis by 640.0% in the 2nd 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. purchased a new stake in Prologis in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 2.5 %

Shares of Prologis stock opened at $112.95 on Friday. The business has a 50-day moving average of $124.32 and a 200-day moving average of $117.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.36. The company has a market capitalization of $104.61 billion, a PE ratio of 34.12, a P/E/G ratio of 3.04 and a beta of 1.07. Prologis, Inc. has a 1-year low of $98.82 and a 1-year high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share 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 analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. As a group, equities analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.40%. Prologis’s dividend payout ratio is presently 116.01%.

Insider Activity

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 transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PLD shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Scotiabank reduced their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Barclays reduced their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

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.