Prologis, Inc. (NYSE:PLD) Shares Sold by Covestor Ltd

Covestor Ltd decreased its position in Prologis, Inc. (NYSE:PLD) by 5.3% in the 3rd quarter, Holdings Channel reports. The fund owned 1,980 shares of the real estate investment trust’s stock after selling 111 shares during the period. Covestor Ltd’s holdings in Prologis were worth $250,000 as of its most recent SEC filing.

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

Prologis Trading Up 1.4 %

Prologis stock opened at $115.83 on Friday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The stock has a market capitalization of $107.28 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The firm has a 50 day simple moving average of $122.69 and a 200-day simple moving average of $117.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last issued 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). The firm 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 for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 earnings per share. As a group, equities research analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of a number of recent analyst reports. Scotiabank cut their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Evercore ISI increased their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Argus boosted their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Eight equities research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.