Prologis, Inc. (NYSE:PLD) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its position in shares of Prologis, Inc. (NYSE:PLD) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,840 shares of the real estate investment trust’s stock after selling 1,167 shares during the quarter. D.A. Davidson & CO.’s holdings in Prologis were worth $11,471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. lifted its position in Prologis by 48.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 20,792 shares of the real estate investment trust’s stock valued at $2,708,000 after buying an additional 6,780 shares in the last quarter. Beacon Capital Management LLC raised its stake in shares of Prologis by 379.1% in the 1st quarter. Beacon Capital Management LLC now owns 872 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 690 shares during the period. New Covenant Trust Company N.A. acquired a new position in shares of Prologis during the 1st quarter valued at $232,000. Wahed Invest LLC boosted its position in Prologis by 17.3% during the 1st quarter. Wahed Invest LLC now owns 18,307 shares of the real estate investment trust’s stock worth $2,384,000 after purchasing an additional 2,701 shares during the period. Finally, Pacific Center for Financial Services acquired a new stake in Prologis in the 1st quarter valued at $154,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 1.6 %

Shares of PLD stock opened at $116.16 on Wednesday. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52. The firm has a market capitalization of $107.58 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08. The stock has a fifty day moving average of $119.27 and a two-hundred day moving average of $118.61. 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 announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.31%. Prologis’s payout ratio is 116.01%.

Analysts Set New Price Targets

PLD has been the topic of a number of recent research reports. Truist Financial boosted their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Scotiabank dropped their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Wells Fargo & Company raised their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.25.

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.