Prologis, Inc. (NYSE:PLD) Shares Sold by SpiderRock Advisors LLC

SpiderRock Advisors LLC trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.2% in the third quarter, Holdings Channel reports. The fund owned 8,715 shares of the real estate investment trust’s stock after selling 285 shares during the period. SpiderRock Advisors LLC’s holdings in Prologis were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of Prologis during the 1st quarter worth $596,614,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Prologis during the second quarter worth about $203,223,000. Vanguard Group Inc. increased its holdings in Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after acquiring an additional 1,358,542 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLD. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley lifted their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Scotiabank lowered 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. Finally, Argus lifted their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Price Performance

PLD stock opened at $115.83 on Monday. The stock has a market capitalization of $107.28 billion, a price-to-earnings ratio of 34.99, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The stock’s fifty day simple moving average is $122.69 and its 200-day simple moving average is $117.67.

Prologis (NYSE:PLD) last issued its quarterly 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 return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business posted $1.30 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities 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 given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

About Prologis

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.