Prologis, Inc. (NYSE:PLD) Holdings Cut by Source Financial Advisors LLC

Source Financial Advisors LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 20.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,053 shares of the real estate investment trust’s stock after selling 527 shares during the period. Source Financial Advisors LLC’s holdings in Prologis were worth $259,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AIA Group Ltd grew its stake in shares of Prologis by 5.2% in the 3rd quarter. AIA Group Ltd now owns 414,982 shares of the real estate investment trust’s stock valued at $52,404,000 after buying an additional 20,483 shares in the last quarter. Seven Post Investment Office LP grew its position in Prologis by 0.7% in the third quarter. Seven Post Investment Office LP now owns 160,371 shares of the real estate investment trust’s stock worth $20,252,000 after acquiring an additional 1,070 shares in the last quarter. Hara Capital LLC bought a new stake in Prologis in the third quarter worth approximately $48,000. JB Capital LLC increased its stake in shares of Prologis by 4.2% during the 3rd quarter. JB Capital LLC now owns 78,091 shares of the real estate investment trust’s stock worth $9,861,000 after purchasing an additional 3,162 shares during the last quarter. Finally, Keudell Morrison Wealth Management bought a new position in shares of Prologis during the 3rd quarter valued at $358,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Up 1.4 %

NYSE PLD opened at $115.83 on Friday. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The stock has a market cap of $107.28 billion, a PE ratio of 34.99, a PEG ratio of 2.98 and a beta of 1.08. The firm has a 50-day simple moving average of $122.69 and a 200 day simple moving average of $117.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. On average, research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Analysts Set New Price Targets

Several research firms have commented on PLD. Morgan Stanley increased their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, 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 note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $131.12.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s 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 owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.56% of the company’s stock.

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.