Thrivent Financial for Lutherans Has $33.74 Million Position in Prologis, Inc. (NYSE:PLD)

Thrivent Financial for Lutherans reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,135 shares of the real estate investment trust’s stock after selling 1,123 shares during the period. Thrivent Financial for Lutherans’ holdings in Prologis were worth $33,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB raised its holdings in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after acquiring an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after buying an additional 43,235 shares in the last quarter. Sunflower Bank N.A. acquired a new position in shares of Prologis during the 3rd quarter worth $249,000. Cetera Advisors LLC raised its holdings in shares of Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after buying an additional 20,623 shares in the last quarter. Finally, Abundance Wealth Counselors acquired a new position in shares of Prologis during the 2nd quarter worth $973,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PLD shares. Morgan Stanley boosted their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America restated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Finally, Evercore ISI upped their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.18.

Prologis Stock Up 0.4 %

PLD stock opened at $115.13 on Wednesday. The stock’s 50 day simple moving average is $120.69 and its 200 day simple moving average is $118.30. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $106.63 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.30 earnings per share. On average, research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’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 value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

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.