My Legacy Advisors LLC Sells 847 Shares of Prologis, Inc. (NYSE:PLD)

My Legacy Advisors LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 20.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,305 shares of the real estate investment trust’s stock after selling 847 shares during the quarter. My Legacy Advisors LLC’s holdings in Prologis were worth $417,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PLD. Nordea Investment Management AB boosted its stake in shares of Prologis by 380.0% in the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after acquiring an additional 263,649 shares during the period. Swedbank AB boosted its stake in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares in the last quarter. US Bancorp DE raised its position in shares of Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after buying an additional 41,469 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after buying an additional 367,565 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank raised their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Finally, Argus boosted their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $131.47.

Prologis Stock Up 1.0 %

NYSE:PLD opened at $118.94 on Wednesday. The company has a market cap 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. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $125.31 and a 200-day simple moving average of $117.51.

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 net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business earned $1.30 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. Prologis’s payout ratio is currently 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.