OneAscent Financial Services LLC Reduces Stock Position in Prologis, Inc. $PLD

OneAscent Financial Services LLC decreased its holdings in Prologis, Inc. (NYSE:PLD) by 70.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,275 shares of the real estate investment trust’s stock after selling 10,378 shares during the period. OneAscent Financial Services LLC’s holdings in Prologis were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clayton Financial Group LLC bought a new position in shares of Prologis in the third quarter worth about $26,000. Silver Oak Securities Incorporated purchased a new stake in Prologis in the 3rd quarter valued at about $36,000. Barrett & Company Inc. bought a new position in Prologis in the 2nd quarter worth about $44,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Prologis during the second quarter worth approximately $44,000. Finally, SJS Investment Consulting Inc. purchased a new position in shares of Prologis during the third quarter worth approximately $44,000. 93.50% of the stock is currently owned by institutional investors.

Insider Activity at Prologis

In other news, Director James B. Connor sold 80,000 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. The trade was a 7.03% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 81,121 shares of company stock valued at $10,267,210. 0.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. BTIG Research upped their target price on Prologis from $134.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 31st. Wells Fargo & Company increased their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. UBS Group set a $138.00 price objective on Prologis in a report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Prologis in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $128.24.

Prologis Trading Up 0.6%

Shares of NYSE:PLD opened at $129.79 on Tuesday. The company has a market capitalization of $120.56 billion, a PE ratio of 37.84, a P/E/G ratio of 3.78 and a beta of 1.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $131.70. The business’s fifty day simple moving average is $126.87 and its 200-day simple moving average is $117.06.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.21 billion during the quarter. As a group, equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.1%. Prologis’s payout ratio is presently 117.78%.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.