Prologis, Inc. (NYSE:PLD) is Inspire Investing LLC’s 9th Largest Position

Inspire Investing LLC reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,477 shares of the real estate investment trust’s stock after selling 328 shares during the period. Prologis comprises 1.1% of Inspire Investing LLC’s investment portfolio, making the stock its 9th largest holding. Inspire Investing LLC’s holdings in Prologis were worth $11,173,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its position in shares of Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after buying an additional 48,850,448 shares in the last quarter. Swedbank AB purchased a new position in Prologis in the first quarter worth approximately $596,614,000. Alphinity Investment Management Pty Ltd purchased a new position in Prologis in the first quarter worth approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Prologis during the 2nd quarter worth approximately $203,223,000. Finally, Vanguard Group Inc. increased its position in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The shares were 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 of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PLD has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Scotiabank increased their price objective on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Argus boosted their target price on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Barclays dropped their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.71.

Prologis Price Performance

Shares of NYSE:PLD opened at $120.24 on Friday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a market capitalization of $111.33 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 3.05 and a beta of 1.07. The company has a 50-day simple moving average of $125.23 and a 200-day simple moving average of $117.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36.

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

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis’s dividend payout ratio (DPR) is 126.73%.

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.