Prologis, Inc. (NYSE:PLD) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 267,135 shares of the real estate investment trust’s stock after selling 1,123 shares during the period. Thrivent Financial for Lutherans’ holdings in Prologis were worth $33,735,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. American Capital Advisory LLC acquired a new position in shares of Prologis in the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the 2nd quarter valued at $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. boosted its position in Prologis by 640.0% during the 2nd 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. Finally, Wetzel Investment Advisors Inc. acquired 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.

Prologis Price Performance

Prologis stock opened at $115.13 on Wednesday. The business’s 50-day simple moving average is $120.69 and its 200 day simple moving average is $118.30. The stock has a market cap of $106.63 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business posted $1.30 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid 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 3.34%. Prologis’s dividend payout ratio is 116.01%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis 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 completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. Morgan Stanley raised their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Scotiabank decreased their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.18.

Prologis 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.