Sarasin & Partners LLP Sells 95,921 Shares of Prologis, Inc. (NYSE:PLD)

Sarasin & Partners LLP lessened its position in Prologis, Inc. (NYSE:PLD) by 9.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 934,048 shares of the real estate investment trust’s stock after selling 95,921 shares during the quarter. Sarasin & Partners LLP owned approximately 0.10% of Prologis worth $117,952,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Optimum Investment Advisors acquired a new position in Prologis during the first quarter worth $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the 2nd quarter worth about $27,000. American Capital Advisory LLC bought a new position in Prologis in the 2nd quarter valued at about $26,000. Central Valley Advisors LLC acquired a new stake in Prologis during the second quarter worth approximately $29,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PLD shares. Evercore ISI increased their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Scotiabank raised their price objective on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. The Goldman Sachs Group increased their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.71.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’s 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 approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.

Prologis Price Performance

Shares of NYSE:PLD traded up $0.68 on Friday, hitting $118.96. The company’s stock had a trading volume of 371,615 shares, compared to its average volume of 3,611,160. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $110.15 billion, a PE ratio of 39.04, a PEG ratio of 3.05 and a beta of 1.07. The company has a 50-day simple moving average of $125.30 and a 200 day simple moving average of $117.96.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s quarterly revenue was down 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. Sell-side analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is 126.73%.

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.