Prologis, Inc. (NYSE:PLD) Stock Holdings Lowered by Archer Investment Corp

Archer Investment Corp cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,519 shares of the real estate investment trust’s stock after selling 230 shares during the quarter. Prologis makes up approximately 1.7% of Archer Investment Corp’s holdings, making the stock its 9th largest holding. Archer Investment Corp’s holdings in Prologis were worth $6,253,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of Prologis by 117.9% during the third quarter. Empowered Funds LLC now owns 34,755 shares of the real estate investment trust’s stock valued at $4,389,000 after buying an additional 18,807 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its holdings in Prologis by 5.0% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 183,424 shares of the real estate investment trust’s stock valued at $23,163,000 after purchasing an additional 8,766 shares during the period. CIBC Asset Management Inc boosted its holdings in Prologis by 11.3% in the 3rd quarter. CIBC Asset Management Inc now owns 187,992 shares of the real estate investment trust’s stock valued at $23,740,000 after purchasing an additional 19,029 shares during the period. Balboa Wealth Partners acquired a new position in shares of Prologis in the 3rd quarter valued at $262,000. Finally, ING Groep NV raised its stake in shares of Prologis by 1.1% in the 3rd quarter. ING Groep NV now owns 125,047 shares of the real estate investment trust’s stock valued at $15,791,000 after buying an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.5 %

Shares of PLD stock traded down $0.57 on Friday, hitting $114.18. The company’s stock had a trading volume of 492,352 shares, compared to its average volume of 3,639,447. The stock has a market capitalization of $105.75 billion, a price-to-earnings ratio of 34.50, a P/E/G ratio of 3.06 and a beta of 1.08. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week 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 firm’s fifty day moving average price is $121.62 and its 200-day moving average price is $117.88.

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 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 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 previous year, the firm earned $1.30 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Argus raised their target price 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. Evercore ISI lifted their price objective 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. Scotiabank dropped their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, October 25th. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Eight equities research 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.12.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by 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.