Thurston Springer Miller Herd & Titak Inc. Has $1.41 Million Holdings in Prologis, Inc. (NYSE:PLD)

Thurston Springer Miller Herd & Titak Inc. trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 34.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,180 shares of the real estate investment trust’s stock after selling 5,837 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Prologis were worth $1,412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Optimum Investment Advisors bought a new position in Prologis during the first quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis during the 2nd quarter worth about $27,000. American Capital Advisory LLC bought a new stake in shares of Prologis during the 2nd quarter worth about $26,000. Central Valley Advisors LLC acquired a new position in Prologis in the 2nd quarter valued at about $29,000. Finally, Sunbelt Securities Inc. raised its holdings in 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 acquiring an additional 224 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Up 1.7 %

NYSE PLD opened at $120.24 on Monday. The company has a market cap of $111.32 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average is $125.23 and its 200 day moving average is $117.79.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company earned $1.83 EPS. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. As a group, sell-side analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued 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 3.19%. Prologis’s payout ratio is 112.28%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Scotiabank upped their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. The Goldman Sachs Group boosted their target price on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI raised their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, BMO Capital Markets restated a “market perform” rating and set a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.71.

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.