Constitution Capital LLC cut its stake in Prologis, Inc. (NYSE:PLD – Free Report) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,100 shares of the real estate investment trust’s stock after selling 334 shares during the period. Prologis makes up about 1.1% of Constitution Capital LLC’s portfolio, making the stock its 17th biggest holding. Constitution Capital LLC’s holdings in Prologis were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC acquired a new position in shares of Prologis during the 1st quarter worth $25,000. Sageworth Trust Co bought a new stake in shares of Prologis in the 1st quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of Prologis in the 1st quarter valued at about $30,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Prologis in the 1st quarter valued at about $31,000. Finally, Centerpoint Advisors LLC bought a new stake in shares of Prologis in the 1st quarter valued at about $34,000. 90.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. BTIG Research upped their price target on Prologis from $152.00 to $154.00 in a research report on Wednesday, July 19th. Morgan Stanley reiterated an “overweight” rating and issued a $128.00 price target on shares of Prologis in a research report on Thursday, July 20th. StockNews.com assumed coverage on Prologis in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Truist Financial reduced their price target on Prologis from $140.00 to $135.00 in a research report on Tuesday, June 27th. Finally, Barclays cut their target price on Prologis from $160.00 to $159.00 in a research report on Wednesday, June 28th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $140.65.
Prologis Stock Performance
Shares of PLD traded down $1.06 on Tuesday, reaching $121.67. 406,772 shares of the company’s stock traded hands, compared to its average volume of 2,863,441. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a market cap of $112.41 billion, a PE ratio of 32.29, a PEG ratio of 2.46 and a beta of 0.98. The stock’s 50 day simple moving average is $123.69 and its two-hundred day simple moving average is $122.82. Prologis, Inc. has a 52-week low of $98.03 and a 52-week high of $136.67.
Prologis (NYSE:PLD – Get Free Report) last issued its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.15. Prologis had a return on equity of 6.17% and a net margin of 42.52%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the business posted $1.11 earnings per share. Prologis’s revenue was up 95.8% on a year-over-year basis. On average, analysts forecast that Prologis, Inc. will post 5.59 earnings per share for the current fiscal year.
Prologis Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, September 15th. Prologis’s payout ratio is currently 91.58%.
Insider Transactions at Prologis
In related news, Director George L. Fotiades sold 10,711 shares of Prologis stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $123.98, for a total transaction of $1,327,949.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company’s stock.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2023, 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 (114 million square meters) in 19 countries.
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