Advisors Asset Management Inc. Trims Position in Prologis, Inc. (NYSE:PLD)

Advisors Asset Management Inc. cut its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 25.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,522 shares of the real estate investment trust's stock after selling 23,122 shares during the period. Advisors Asset Management Inc.'s holdings in Prologis were worth $8,400,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hilton Capital Management LLC lifted its position in Prologis by 56.7% during the third quarter. Hilton Capital Management LLC now owns 73,159 shares of the real estate investment trust's stock valued at $9,239,000 after purchasing an additional 26,459 shares in the last quarter. Commerce Bank lifted its position in shares of Prologis by 41.3% during the 3rd quarter. Commerce Bank now owns 610,228 shares of the real estate investment trust's stock valued at $77,060,000 after buying an additional 178,498 shares in the last quarter. Strategy Asset Managers LLC grew its stake in shares of Prologis by 27.7% during the 3rd quarter. Strategy Asset Managers LLC now owns 3,122 shares of the real estate investment trust's stock valued at $394,000 after acquiring an additional 677 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Prologis in the 3rd quarter worth approximately $21,512,000. Finally, Prospera Private Wealth LLC bought a new stake in Prologis during the 3rd quarter worth approximately $700,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research analyst reports. Morgan Stanley increased their target price on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their price objective 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. Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Barclays upped their price objective on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.18.

Prologis Trading Up 0.1 %

PLD stock traded up $0.13 during mid-day trading on Thursday, reaching $114.67. The company had a trading volume of 312,578 shares, compared to its average volume of 3,627,659. The company has a market capitalization of $106.20 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. The firm has a 50 day moving average of $120.36 and a 200 day moving average of $118.27. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD - Get Free Report) last announced 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.30 EPS. On average, equities analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given 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 3.35%. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Insider Buying and Selling at Prologis

In other 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 28.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by insiders.

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.