Prologis, Inc. (NYSE:PLD) Shares Sold by James Investment Research Inc.

James Investment Research Inc. lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 21.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,818 shares of the real estate investment trust’s stock after selling 8,470 shares during the period. James Investment Research Inc.’s holdings in Prologis were worth $3,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Nordea Investment Management AB increased its holdings in Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB increased 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 purchasing an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Prologis by 36.1% in 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. US Bancorp DE increased its holdings in Prologis by 6.5% in the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after purchasing an additional 41,469 shares during the last quarter. Finally, Sunflower Bank N.A. acquired a new stake in Prologis in the 3rd quarter valued at approximately $249,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by company insiders.

Prologis Price Performance

Shares of PLD opened at $113.41 on Friday. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The stock has a market cap of $105.04 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.36. The firm has a fifty day moving average price of $124.01 and a 200 day moving average price of $117.31.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed 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 was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. Prologis’s dividend payout ratio is presently 116.01%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. BMO Capital Markets restated a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. 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 note on Monday, October 21st. Barclays dropped their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Argus boosted their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus 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.