Private Advisor Group LLC Sells 139 Shares of Prologis, Inc. (NYSE:PLD)

Private Advisor Group LLC cut its position in shares of Prologis, Inc. (NYSE:PLD) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,542 shares of the real estate investment trust’s stock after selling 139 shares during the period. Private Advisor Group LLC’s holdings in Prologis were worth $6,888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Valeo Financial Advisors LLC grew its holdings in Prologis by 182,067.2% during the 1st 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 in the last quarter. Swedbank AB bought a new position in shares of Prologis during the first quarter valued at approximately $596,614,000. Alphinity Investment Management Pty Ltd purchased a new position in Prologis during the first quarter valued at approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis in the second quarter worth approximately $203,223,000. Finally, Vanguard Group Inc. lifted its holdings in Prologis by 1.2% during 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 buying an additional 1,460,229 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PLD shares. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Argus raised their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Bank of America reaffirmed a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.12.

Prologis Stock Performance

PLD opened at $117.52 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm has a 50 day moving average of $125.17 and a two-hundred day moving average of $117.56. The firm has a market capitalization of $108.81 billion, a PE ratio of 34.51, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 earnings per share. On average, analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is presently 112.28%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

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.