West Michigan Advisors LLC Trims Holdings in Prologis, Inc. (NYSE:PLD)

West Michigan Advisors LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,892 shares of the real estate investment trust’s stock after selling 220 shares during the quarter. West Michigan Advisors LLC’s holdings in Prologis were worth $491,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PLD. International Assets Investment Management LLC lifted its stake in Prologis by 8.8% in the first quarter. International Assets Investment Management LLC now owns 1,846 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 149 shares during the period. Brookstone Capital Management bought a new position in Prologis in the 1st quarter worth $222,000. Wealthcare Advisory Partners LLC lifted its position in shares of Prologis by 28.8% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,518 shares of the real estate investment trust’s stock worth $328,000 after purchasing an additional 563 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Prologis by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 272,548 shares of the real estate investment trust’s stock valued at $35,491,000 after purchasing an additional 9,639 shares in the last quarter. Finally, Artemis Investment Management LLP increased its position in shares of Prologis by 0.3% during the first quarter. Artemis Investment Management LLP now owns 72,269 shares of the real estate investment trust’s stock valued at $9,154,000 after buying an additional 236 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Shares of NYSE PLD opened at $120.39 on Friday. The firm has a market cap of $111.46 billion, a P/E ratio of 35.20, a PEG ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $125.26 and a 200 day moving average of $117.54.

Prologis (NYSE:PLD) last posted 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 return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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 transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was 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. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PLD shares. Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. JPMorgan Chase & Co. dropped their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday. Argus increased their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI raised their price objective on 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 upped their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

Prologis 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.