Prologis, Inc. (NYSE:PLD) Stock Holdings Lowered by Hixon Zuercher LLC

Hixon Zuercher LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 17,982 shares of the real estate investment trust’s stock after selling 982 shares during the quarter. Hixon Zuercher LLC’s holdings in Prologis were worth $2,271,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Prologis by 10.8% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 4,416 shares of the real estate investment trust’s stock valued at $558,000 after buying an additional 430 shares in the last quarter. W.H. Cornerstone Investments Inc. grew its holdings in shares of Prologis by 29.0% in the 3rd quarter. W.H. Cornerstone Investments Inc. now owns 2,414 shares of the real estate investment trust’s stock worth $305,000 after acquiring an additional 542 shares during the last quarter. ASB Consultores LLC raised its position in shares of Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 86 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Prologis during the third quarter valued at $255,000. Finally, Red Cedar Investment Management LLC purchased a new stake in shares of Prologis during the third quarter valued at $1,230,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Up 0.5 %

Shares of NYSE PLD opened at $114.38 on Wednesday. The business has a 50 day simple moving average of $123.42 and a 200 day simple moving average of $117.55. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The stock has a market cap of $105.94 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, research analysts predict 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 given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Analyst Ratings Changes

Several analysts have issued reports on PLD shares. Truist Financial boosted their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. 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. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Barclays reduced their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Prologis 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.