QRG Capital Management Inc. Trims Stock Holdings in Prologis, Inc. $PLD

QRG Capital Management Inc. lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,153 shares of the real estate investment trust’s stock after selling 20,880 shares during the period. QRG Capital Management Inc.’s holdings in Prologis were worth $11,241,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Clayton Financial Group LLC bought a new position in Prologis in the 3rd quarter worth about $26,000. Silver Oak Securities Incorporated bought a new position in shares of Prologis in the third quarter valued at approximately $36,000. Barrett & Company Inc. bought a new position in shares of Prologis in the second quarter valued at approximately $44,000. Twin Peaks Wealth Advisors LLC purchased a new position in Prologis during the second quarter valued at approximately $44,000. Finally, SJS Investment Consulting Inc. bought a new stake in Prologis during the 3rd quarter worth approximately $44,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Prologis in a report on Monday, December 29th. Wells Fargo & Company lifted their price objective on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Barclays restated an “overweight” rating and issued a $139.00 target price on shares of Prologis in a research note on Tuesday. Robert W. Baird restated a “neutral” rating and issued a $130.00 target price (up from $128.00) on shares of Prologis in a research note on Thursday, January 8th. Finally, Truist Financial reiterated a “buy” rating and set a $131.00 price target (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $132.31.

Insider Buying and Selling at Prologis

In other Prologis news, Director James B. Connor sold 80,000 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $126.58, for a total transaction of $10,126,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the transaction, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 81,121 shares of company stock worth $10,267,210. 0.57% of the stock is owned by insiders.

Prologis Trading Up 0.3%

Shares of PLD stock opened at $133.21 on Friday. The business has a 50-day moving average price of $127.86 and a two-hundred day moving average price of $118.49. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $134.94. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The firm has a market cap of $123.74 billion, a P/E ratio of 38.84, a price-to-earnings-growth ratio of 3.91 and a beta of 1.40.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. The company had revenue of $2.21 billion for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. Equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.0%. Prologis’s dividend payout ratio is 117.78%.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.