Advisors Asset Management Inc. Sells 23,122 Shares of Prologis, Inc. (NYSE:PLD)

Advisors Asset Management Inc. lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 25.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,522 shares of the real estate investment trust’s stock after selling 23,122 shares during the quarter. Advisors Asset Management Inc.’s holdings in Prologis were worth $8,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. American Capital Advisory LLC acquired a new position in shares of Prologis during the second quarter worth $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 acquired a new position in shares of Prologis during the second quarter worth $29,000. Sunbelt Securities Inc. lifted 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 purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the second quarter worth $31,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of several recent analyst reports. Scotiabank dropped their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. JPMorgan Chase & Co. decreased their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. 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 research note on Wednesday, August 14th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $131.18.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value 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 28.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $114.54 on Thursday. The stock has a market capitalization of $106.08 billion, a P/E ratio of 34.60, a PEG ratio of 2.98 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $120.36 and its 200 day moving average is $118.27. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.35%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

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.