Advisors Asset Management Inc. Sells 23,122 Shares of Prologis, Inc. (NYSE:PLD)

Advisors Asset Management Inc. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 25.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 66,522 shares of the real estate investment trust’s stock after selling 23,122 shares during the quarter. Advisors Asset Management Inc.’s holdings in Prologis were worth $8,400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB grew its holdings in shares of Prologis by 9.2% during 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 purchasing an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew 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 valued at $18,305,000 after purchasing an additional 43,235 shares during the last quarter. Sunflower Bank N.A. bought a new position in shares of Prologis during the 3rd quarter valued at $249,000. Cetera Advisors LLC grew 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 valued at $4,947,000 after purchasing an additional 20,623 shares during the last quarter. Finally, Abundance Wealth Counselors purchased a new stake in Prologis during the 2nd quarter valued at $973,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. Evercore ISI increased their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Barclays increased their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday. Scotiabank dropped their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Wells Fargo & Company increased their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.18.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $114.54 on Thursday. The company has a 50 day moving average price of $120.36 and a 200-day moving average price of $118.27. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The firm has a market capitalization of $106.08 billion, a PE ratio of 34.60, 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 announced its 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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. As a group, equities research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. Prologis’s payout ratio is currently 116.01%.

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.