Avior Wealth Management LLC Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Avior Wealth Management LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 3.3% during the third quarter, HoldingsChannel reports. The fund owned 8,519 shares of the real estate investment trust’s stock after selling 291 shares during the quarter. Avior Wealth Management LLC’s holdings in Prologis were worth $1,076,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several analysts have commented on PLD shares. Scotiabank decreased their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Barclays increased their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Wells Fargo & Company increased their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Eight investment 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’s stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $131.18.

Prologis Price Performance

Prologis stock opened at $114.54 on Thursday. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $120.36 and a 200-day simple moving average of $118.27. The stock has a market capitalization of $106.08 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm 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 firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. Equities analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.35%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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 $1,702,046.09. This trade represents a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.

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.