Short Interest in Prologis, Inc. (NYSE:PLD) Drops By 19.9%

Prologis, Inc. (NYSE:PLD) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 11,760,000 shares, a drop of 19.9% from the September 15th total of 14,680,000 shares. Based on an average trading volume of 3,510,000 shares, the short-interest ratio is presently 3.4 days.

Prologis Stock Up 1.7 %

PLD stock traded up $1.96 during mid-day trading on Friday, reaching $120.24. 2,711,999 shares of the company traded hands, compared to its average volume of 3,623,040. The stock has a market cap of $111.33 billion, a price-to-earnings ratio of 39.68, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm’s 50 day moving average price is $125.23 and its 200 day moving average price is $117.86. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company posted $1.83 EPS. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. As a group, equities research analysts predict that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.19%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 126.73%.

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 transaction, the executive now owns 13,187 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Prologis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC lifted its holdings in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the period. Swedbank AB purchased a new position in shares of Prologis in the 1st quarter worth about $596,614,000. Alphinity Investment Management Pty Ltd bought a new position in Prologis during the first quarter valued at about $465,659,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Prologis during the second quarter worth about $203,223,000. Finally, Vanguard Group Inc. raised its position in Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLD. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Scotiabank lifted their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.71.

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.