Prologis, Inc. (NYSE:PLD) Stock Holdings Lowered by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC cut its position in Prologis, Inc. (NYSE:PLD) by 28.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,910 shares of the real estate investment trust’s stock after selling 774 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Prologis were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLD. American Capital Advisory LLC acquired a new position in Prologis during the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the second quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new stake in Prologis during the second quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its position in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter valued at $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of NYSE PLD opened at $113.38 on Friday. The company has a market capitalization of $105.01 billion, a P/E ratio of 34.25, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The business’s 50-day moving average price is $121.62 and its two-hundred day moving average price is $117.88.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 EPS. Analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLD. Wells Fargo & Company upped their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Scotiabank reduced their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Evercore ISI lifted their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Barclays cut their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.12.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred 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 transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

About Prologis

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.