Gulf International Bank UK Ltd Sells 3,059 Shares of Prologis, Inc. (NYSE:PLD)

Gulf International Bank UK Ltd lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,559 shares of the real estate investment trust’s stock after selling 3,059 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Prologis were worth $9,541,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PLD. American Capital Advisory LLC acquired a new stake in Prologis during the second quarter worth about $26,000. Semmax Financial Advisors Inc. acquired a new position in Prologis in the second quarter worth about $27,000. Central Valley Advisors LLC bought a new position in Prologis during the second quarter worth about $29,000. Sunbelt Securities Inc. grew its stake in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis in the 2nd quarter valued at $31,000. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction 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 owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Prologis Stock Performance

Shares of Prologis stock opened at $113.86 on Tuesday. The company’s 50 day moving average price is $123.71 and its two-hundred day moving average price is $117.47. The firm has a market capitalization of $105.45 billion, a P/E ratio of 34.40, a P/E/G ratio of 2.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.36. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly 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 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 was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. On average, equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued 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 yield of 3.37%. Prologis’s payout ratio is currently 116.01%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PLD shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Scotiabank reduced their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Barclays lowered their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Company 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.