Prologis, Inc. (NYSE:PLD) Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its stake in Prologis, Inc. (NYSE:PLD) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,366,283 shares of the real estate investment trust’s stock after selling 136,693 shares during the period. Sei Investments Co. owned 0.26% of Prologis worth $290,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PLD. Norges Bank acquired a new stake in shares of Prologis in the 4th quarter worth approximately $980,759,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Prologis by 69,785.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,903,391 shares of the real estate investment trust’s stock valued at $969,193,000 after purchasing an additional 7,892,082 shares during the last quarter. Providence Capital Advisors LLC lifted its stake in Prologis by 12,581.9% during the first quarter. Providence Capital Advisors LLC now owns 5,760,504 shares of the real estate investment trust’s stock valued at $46,168,000 after purchasing an additional 5,715,081 shares during the last quarter. Morgan Stanley lifted its stake in Prologis by 48.0% during the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock valued at $1,643,359,000 after purchasing an additional 4,729,040 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Prologis during the second quarter valued at approximately $333,749,000. 90.90% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of Prologis stock traded down $0.40 during mid-day trading on Tuesday, reaching $110.60. 902,162 shares of the stock were exchanged, compared to its average volume of 2,978,860. The company has a market cap of $102.19 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.47. The firm has a 50-day simple moving average of $109.09 and a 200 day simple moving average of $118.40. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $136.67.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Prologis had a net margin of 38.24% and a return on equity of 5.21%. The company’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS. On average, sell-side analysts predict that Prologis, Inc. will post 5.6 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Friday, September 15th. Prologis’s payout ratio is currently 107.41%.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of recent analyst reports. Mizuho restated a “buy” rating and set a $140.00 price target on shares of Prologis in a report on Wednesday, September 13th. Raymond James dropped their price objective on shares of Prologis from $145.00 to $130.00 and set a “strong-buy” rating on the stock in a research note on Monday, October 23rd. Evercore ISI dropped their price objective on shares of Prologis from $132.00 to $125.00 in a research note on Monday, October 9th. Truist Financial dropped their price target on shares of Prologis from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, October 24th. Finally, TheStreet lowered shares of Prologis from a “b-” rating to a “c+” rating in a research note on Friday, October 20th. Three 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.60.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 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.