Proficio Capital Partners LLC Sells 1,044 Shares of Prologis, Inc. (NYSE:PLD)

Proficio Capital Partners LLC lessened its stake in Prologis, Inc. (NYSE:PLD) by 35.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,875 shares of the real estate investment trust’s stock after selling 1,044 shares during the quarter. Proficio Capital Partners LLC’s holdings in Prologis were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB boosted its holdings in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after buying an additional 43,235 shares in the last quarter. US Bancorp DE grew its position in shares of Prologis by 6.5% during the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after buying an additional 41,469 shares in the last quarter. Sunflower Bank N.A. purchased a new position in shares of Prologis during the third quarter valued at $249,000. Finally, Centersquare Investment Management LLC raised its holdings in shares of Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after acquiring an additional 367,565 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $115.83 on Monday. The stock’s fifty day moving average price is $122.69 and its 200 day moving average price is $117.67. Prologis, Inc. has a 1 year low of $101.11 and a 1 year 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 company has a market cap of $107.28 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. As a group, equities research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. Prologis’s payout ratio is currently 116.01%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PLD shares. Barclays cut their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Scotiabank lowered their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company lifted their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Eight investment 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $131.12.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

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.