Hartline Investment Corp Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Hartline Investment Corp cut its position in shares of Prologis, Inc. (NYSE:PLD) by 39.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,399 shares of the real estate investment trust’s stock after selling 2,193 shares during the quarter. Hartline Investment Corp’s holdings in Prologis were worth $429,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after buying an additional 1,460,229 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after acquiring an additional 167,131 shares during the last quarter. Centersquare Investment Management LLC grew its position in shares of Prologis by 5.7% during the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after acquiring an additional 367,565 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of Prologis by 16.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock worth $767,398,000 after purchasing an additional 958,914 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated 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 in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by corporate insiders.

Prologis Stock Performance

Shares of PLD opened at $112.75 on Wednesday. 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 stock has a 50-day moving average price of $122.11 and a 200-day moving average price of $117.91. The company has a market cap of $104.43 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.99 and a beta of 1.08. Prologis, Inc. has a 12-month low of $101.11 and a 12-month 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 the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for 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%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. As a group, equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is presently 116.01%.

Analysts Set New Price Targets

Several brokerages have weighed in on PLD. Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Morgan Stanley lifted their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Truist Financial upped their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays reduced their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.12.

About Prologis

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.