Private Advisor Group LLC Trims Stock Position in Prologis, Inc. (NYSE:PLD)

Private Advisor Group LLC decreased its holdings in Prologis, Inc. (NYSE:PLD) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,542 shares of the real estate investment trust’s stock after selling 139 shares during the quarter. Private Advisor Group LLC’s holdings in Prologis were worth $6,888,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter worth about $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the 2nd quarter worth approximately $27,000. Central Valley Advisors LLC bought a new stake in Prologis during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its holdings in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis in the second quarter worth approximately $31,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PLD. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Morgan Stanley boosted their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Barclays dropped their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Wells Fargo & Company increased their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Buying and Selling

In other Prologis 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 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Prologis Trading Down 2.4 %

Shares of PLD stock opened at $117.52 on Friday. The company has a market cap of $108.81 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. 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 stock’s 50 day simple moving average is $125.17 and its two-hundred day simple moving average is $117.56. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly 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 return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. Prologis’s dividend payout ratio is 112.28%.

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.