Jmac Enterprises LLC Trims Stake in Prologis, Inc. (NYSE:PLD)

Jmac Enterprises LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,745 shares of the real estate investment trust’s stock after selling 198 shares during the quarter. Jmac Enterprises LLC’s holdings in Prologis were worth $852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLD. Norden Group LLC increased its stake in shares of Prologis by 15.3% in the first quarter. Norden Group LLC now owns 5,008 shares of the real estate investment trust’s stock worth $652,000 after acquiring an additional 664 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Prologis in the first quarter valued at $203,000. GSA Capital Partners LLP acquired a new stake in Prologis in the 1st quarter valued at approximately $1,172,000. Concord Investment Counsel Inc. acquired a new position in shares of Prologis in the first quarter worth $2,308,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Prologis by 5.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 119,755 shares of the real estate investment trust’s stock valued at $15,594,000 after purchasing an additional 6,578 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $113.55 on Thursday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The business’s fifty day moving average price is $123.15 and its 200 day moving average price is $117.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $105.17 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 2.97 and a beta of 1.08.

Prologis (NYSE:PLD) last posted 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 net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company posted $1.30 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Insiders Place Their Bets

In other 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 completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Argus boosted their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Finally, Scotiabank lowered their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

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.