Greystone Financial Group LLC Has $7.29 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Greystone Financial Group LLC cut its holdings in Prologis, Inc. (NYSE:PLD) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,733 shares of the real estate investment trust’s stock after selling 90 shares during the quarter. Greystone Financial Group LLC’s holdings in Prologis were worth $7,291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Valeo Financial Advisors LLC increased its position in Prologis by 182,067.2% in 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 purchasing an additional 48,850,448 shares during the period. Swedbank AB acquired a new stake in Prologis in the first quarter worth about $596,614,000. Alphinity Investment Management Pty Ltd acquired a new stake in Prologis in the first quarter worth about $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Prologis in the second quarter worth about $203,223,000. Finally, Vanguard Group Inc. increased 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 purchasing an additional 1,460,229 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PLD shares. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average target price of $131.47.

Prologis Trading Up 1.6 %

NYSE:PLD opened at $120.83 on Thursday. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $111.87 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The business’s 50-day simple moving average is $125.26 and its 200-day simple moving average is $117.54.

Prologis (NYSE:PLD) last released its quarterly earnings data 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 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $1.30 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 112.28%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred 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 sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

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.