Greystone Financial Group LLC Has $7.29 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Greystone Financial Group LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,733 shares of the real estate investment trust’s stock after selling 90 shares during the period. Greystone Financial Group LLC’s holdings in Prologis were worth $7,291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. acquired a new position in Prologis during the second quarter valued at approximately $27,000. American Capital Advisory LLC bought a new stake in shares of Prologis in the second quarter valued at approximately $26,000. Central Valley Advisors LLC bought a new stake in shares of Prologis in the second quarter valued at approximately $29,000. Sunbelt Securities Inc. boosted its position in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PLD shares. Morgan Stanley increased their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Barclays reduced their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Scotiabank increased their price objective on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday. Eight equities research 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, Prologis presently has an average rating of “Moderate Buy” and an average target price of $131.47.

Prologis Stock Performance

Prologis stock opened at $120.83 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a fifty day moving average price of $125.26 and a two-hundred day moving average price of $117.54. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market capitalization of $111.87 billion, a P/E ratio of 35.33, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last released 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.18%. Prologis’s dividend payout ratio is currently 112.28%.

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.