Prologis, Inc. (NYSE:PLD) Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,497 shares of the real estate investment trust’s stock after selling 365 shares during the period. Baker Avenue Asset Management LP’s holdings in Prologis were worth $947,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. American Capital Advisory LLC purchased a new stake in shares of Prologis during the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the 2nd quarter valued at $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis during the 2nd quarter worth $29,000. Sunbelt Securities Inc. lifted its position in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the second quarter worth $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were 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 owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $115.83 on Monday. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The stock’s 50-day moving average price is $122.69 and its 200 day moving average price is $117.67. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $107.28 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Analysts Set New Price Targets

A number of analysts have issued reports on PLD shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Scotiabank lowered their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.