Dakota Wealth Management Sells 1,046 Shares of Prologis, Inc. (NYSE:PLD)

Dakota Wealth Management cut its position in shares of Prologis, Inc. (NYSE:PLD) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,916 shares of the real estate investment trust’s stock after selling 1,046 shares during the quarter. Dakota Wealth Management’s holdings in Prologis were worth $1,884,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Brookstone Capital Management purchased a new stake in shares of Prologis in the 1st quarter valued at $222,000. Wealthcare Advisory Partners LLC boosted its position in Prologis by 28.8% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,518 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 563 shares during the period. Independence Bank of Kentucky grew its stake in shares of Prologis by 38.2% during the first quarter. Independence Bank of Kentucky now owns 1,320 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 365 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new position in shares of Prologis in the first quarter worth about $207,000. Finally, Kowal Investment Group LLC bought a new stake in shares of Prologis in the 1st quarter valued at about $210,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Scotiabank lowered their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday. Morgan Stanley increased their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Eight equities research 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. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s 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 completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Down 2.4 %

NYSE:PLD opened at $117.54 on Friday. The firm’s 50-day moving average price is $125.06 and its 200-day moving average price is $117.50. The company has a market capitalization of $108.82 billion, a PE ratio of 34.37, a P/E/G 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, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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 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 last year, the company posted $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 112.28%.

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.