Prologis, Inc. (NYSE:PLD) Shares Sold by Allworth Financial LP

Allworth Financial LP lessened its stake in Prologis, Inc. (NYSE:PLD) by 2.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 136,212 shares of the real estate investment trust’s stock after selling 3,505 shares during the quarter. Allworth Financial LP’s holdings in Prologis were worth $17,201,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of research firms have recently commented on PLD. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. 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. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Argus boosted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.12.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $117.52 on Friday. The stock has a fifty day moving average price of $125.17 and a 200 day moving average price of $117.56. 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 cap of $108.81 billion, a PE ratio of 34.36, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business posted $1.30 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Prologis, Inc. will post 5.42 EPS for the current 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 3.27%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 112.28%.

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.