Prologis, Inc. (NYSE:PLD) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 22.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,073 shares of the real estate investment trust’s stock after selling 56,457 shares during the period. Gateway Investment Advisers LLC’s holdings in Prologis were worth $24,508,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PLD. Public Employees Retirement System of Ohio raised its stake in shares of Prologis by 0.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,802,976 shares of the real estate investment trust’s stock worth $240,337,000 after purchasing an additional 4,628 shares during the last quarter. Secured Retirement Advisors LLC acquired a new stake in Prologis during the 4th quarter worth about $957,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Prologis by 4.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,832,324 shares of the real estate investment trust’s stock valued at $777,449,000 after buying an additional 274,556 shares during the period. Quarry LP grew its holdings in Prologis by 38.6% during the fourth quarter. Quarry LP now owns 571 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 159 shares during the period. Finally, GLOBALT Investments LLC GA acquired a new position in Prologis in the fourth quarter valued at approximately $1,042,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD traded up $1.96 during midday trading on Friday, hitting $120.24. The company had a trading volume of 2,711,999 shares, compared to its average volume of 3,623,040. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market cap of $111.33 billion, a price-to-earnings ratio of 39.67, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The business’s 50-day simple moving average is $125.23 and its 200-day simple moving average is $117.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

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

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 126.73%.

Insider Buying and Selling 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 shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLD. Evercore ISI lifted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Argus upped their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their target price on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company increased their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $132.71.

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.