Great Lakes Advisors LLC Has $91.49 Million Position in Prologis, Inc. (NYSE:PLD)

Great Lakes Advisors LLC lowered its stake in Prologis, Inc. (NYSE:PLD) by 7.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 814,584 shares of the real estate investment trust’s stock after selling 70,332 shares during the period. Great Lakes Advisors LLC owned 0.09% of Prologis worth $91,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after acquiring an additional 365,904 shares during the period. Principal Financial Group Inc. grew its holdings in Prologis by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after acquiring an additional 123,902 shares during the period. Finally, Norges Bank acquired a new stake in Prologis during the 4th quarter worth $1,074,648,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’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 owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PLD shares. Argus boosted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI boosted their price target on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Mizuho decreased their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. The Goldman Sachs Group boosted their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Scotiabank boosted their price target on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.12.

Prologis Price Performance

NYSE:PLD traded down $0.18 on Friday, hitting $127.23. The company had a trading volume of 2,484,242 shares, compared to its average volume of 3,616,621. The firm has a 50 day moving average of $122.67 and a two-hundred day moving average of $119.03. The stock has a market capitalization of $117.80 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 3.28 and a beta of 1.07. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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 business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 EPS. On average, research analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

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.