J. W. Coons Advisors LLC Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

J. W. Coons Advisors LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.6% in the third quarter, HoldingsChannel.com reports. The fund owned 5,655 shares of the real estate investment trust’s stock after selling 400 shares during the period. J. W. Coons Advisors LLC’s holdings in Prologis were worth $714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new position in Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the second quarter worth approximately $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis during the second quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its holdings in Prologis by 640.0% in the 2nd 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. acquired a new stake in Prologis during the 2nd quarter worth $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 1.2 %

PLD opened at $113.42 on Monday. The business has a fifty day simple moving average of $121.34 and a 200-day simple moving average of $118.16. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The firm has a market cap of $105.05 billion, a P/E ratio of 34.27, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

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 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of a number of recent research reports. Argus increased their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. reduced 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. Eight equities research 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. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average 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.