Short Interest in Prologis, Inc. (NYSE:PLD) Declines By 19.9%

Prologis, Inc. (NYSE:PLD) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 11,760,000 shares, a decline of 19.9% from the September 15th total of 14,680,000 shares. Based on an average trading volume of 3,510,000 shares, the days-to-cover ratio is presently 3.4 days.

Insider Buying and Selling at Prologis

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

Institutional Investors Weigh In On Prologis

Hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB increased its position in Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after buying an additional 263,649 shares during the period. Swedbank AB lifted its position in shares of Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares during the period. US Bancorp DE lifted its holdings in Prologis by 6.5% in the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after buying an additional 41,469 shares during the period. Finally, Centersquare Investment Management LLC grew its stake in shares of Prologis by 5.7% during the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after purchasing an additional 367,565 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock traded up $1.96 during midday trading on Friday, hitting $120.24. The company had a trading volume of 2,711,999 shares, compared to its average volume of 3,623,040. The stock has a market cap of $111.33 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52. The company’s 50 day simple moving average is $125.23 and its 200 day simple moving average is $117.86.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 EPS. Research analysts anticipate that Prologis will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is presently 126.73%.

Wall Street Analyst Weigh In

PLD has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Scotiabank lifted their target price on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Morgan Stanley boosted their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.71.

Prologis Company Profile

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.