Prologis, Inc. (NYSE:PLD) Shares Sold by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,958 shares of the real estate investment trust’s stock after selling 241 shares during the period. Sigma Investment Counselors Inc.’s holdings in Prologis were worth $3,909,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Valeo Financial Advisors LLC increased its position in 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 purchasing an additional 48,850,448 shares during the last quarter. Swedbank AB purchased a new stake in shares of Prologis in the 1st quarter valued at approximately $596,614,000. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Prologis during the 1st quarter worth approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Prologis during the 2nd quarter worth approximately $203,223,000. Finally, Vanguard Group Inc. raised its position in shares of Prologis by 1.2% during 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 buying an additional 1,460,229 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLD has been the subject of several recent analyst reports. Truist Financial raised their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Evercore ISI raised their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Barclays lowered their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was 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 approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Prologis Price Performance

Shares of NYSE PLD opened at $117.52 on Friday. The stock’s 50-day moving average is $125.17 and its two-hundred day moving average is $117.56. 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 price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results 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). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the business earned $1.30 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. 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 dividend payout ratio (DPR) is presently 112.28%.

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.