Prologis, Inc. (NYSE:PLD) Position Trimmed by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,533 shares of the real estate investment trust’s stock after selling 189 shares during the period. Prologis accounts for approximately 0.3% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its 27th biggest holding. Foresight Group Ltd Liability Partnership’s holdings in Prologis were worth $825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Prologis by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after buying an additional 317,815 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after buying an additional 167,131 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its stake in shares of Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after buying an additional 367,565 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction 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 sale, the executive now owns 13,187 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD opened at $118.94 on Wednesday. The business’s fifty day moving average price is $125.31 and its two-hundred day moving average price is $117.51. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock has a market capitalization of $110.12 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) 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 analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company earned $1.30 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Prologis, Inc. will post 5.42 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 issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is presently 112.28%.

Wall Street Analyst Weigh In

PLD has been the subject of several recent research reports. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $124.00 to $127.00 in a research note on Monday, August 5th. JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America restated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Argus boosted their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Eight investment 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.47.

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.