American Century Companies Inc. Sells 291,587 Shares of Prologis, Inc. (NYSE:PLD)

American Century Companies Inc. lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,930,905 shares of the real estate investment trust’s stock after selling 291,587 shares during the quarter. American Century Companies Inc.’s holdings in Prologis were worth $441,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in Prologis during the 4th quarter valued at approximately $27,000. Optimum Investment Advisors purchased a new position in Prologis during the 1st quarter valued at approximately $26,000. American Capital Advisory LLC purchased a new position in Prologis during the 2nd quarter valued at approximately $26,000. Clear Investment Research LLC grew its holdings in Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 158 shares in the last quarter. Finally, Central Valley Advisors LLC purchased a new position in Prologis during the 2nd quarter valued at approximately $29,000. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities analysts have weighed in on PLD shares. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Bank of America restated a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. The Goldman Sachs Group raised their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Barclays boosted their target price on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.12.

Prologis Stock Performance

Shares of Prologis stock opened at $130.69 on Thursday. The stock’s fifty day moving average is $123.77 and its two-hundred day moving average is $118.88. The company has a market capitalization of $121.00 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned $1.83 EPS. The business’s revenue was down 18.1% compared to the same quarter last year. As a group, analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is 112.28%.

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.