Concurrent Investment Advisors LLC Trims Stake in Prologis, Inc. (NYSE:PLD)

Concurrent Investment Advisors LLC lessened its stake in Prologis, Inc. (NYSE:PLDFree Report) by 20.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,308 shares of the real estate investment trust’s stock after selling 3,241 shares during the period. Concurrent Investment Advisors LLC’s holdings in Prologis were worth $1,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. American Capital Advisory LLC acquired a new position in shares of Prologis in the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new position in Prologis in the second quarter valued at $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. boosted its stake in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $114.22 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The business’s 50 day moving average price is $123.15 and its 200 day moving average price is $117.52. The company has a market cap of $105.79 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52.

Prologis (NYSE:PLDGet Free Report) last announced its quarterly 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the firm posted $1.30 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. On average, research analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 3.36%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is presently 116.01%.

Analyst Ratings Changes

A number of research firms recently weighed in on PLD. Barclays reduced their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Argus upped their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Scotiabank dropped their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.12.

Check Out Our Latest Stock Report on Prologis

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by company insiders.

Prologis 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.

Further Reading

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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