Prologis, Inc. (NYSE:PLD) Shares Sold by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,533 shares of the real estate investment trust’s stock after selling 189 shares during the quarter. Prologis makes up about 0.3% of Foresight Group Ltd Liability Partnership’s investment portfolio, making the stock its 27th largest holding. Foresight Group Ltd Liability Partnership’s holdings in Prologis were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Semmax Financial Advisors Inc. acquired a new position in Prologis in the second quarter worth $27,000. American Capital Advisory LLC acquired a new position in Prologis in the second quarter worth $26,000. Central Valley Advisors LLC acquired a new position in Prologis in the second quarter worth $29,000. Sunbelt Securities Inc. boosted its holdings in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in Prologis in the second quarter worth $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of Prologis stock opened at $118.94 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $125.31 and its two-hundred day moving average price is $117.51. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a market cap of $110.12 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last posted 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). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 EPS. As a group, sell-side 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 issued 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 3.23%. Prologis’s payout ratio is presently 112.28%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated 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 owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday. Morgan Stanley boosted their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Wells Fargo & Company boosted their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Argus boosted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Eight 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 data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

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.