Baillie Gifford & Co. Sells 66,893 Shares of Prologis, Inc. (NYSE:PLD)

Baillie Gifford & Co. lessened its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 25.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,217 shares of the real estate investment trust's stock after selling 66,893 shares during the period. Baillie Gifford & Co.'s holdings in Prologis were worth $24,778,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PLD. Swedbank AB acquired a new stake in Prologis during the 1st quarter worth $596,614,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Prologis during the second quarter worth $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 purchasing an additional 1,460,229 shares during 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 purchasing an additional 1,365,811 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Prologis by 326.3% in the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock valued at $199,343,000 after buying an additional 1,358,542 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Friday, October 25th. Barclays decreased their price target on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating for the company in a report on Thursday, October 10th. The Goldman Sachs Group reissued a "neutral" rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, StockNews.com raised Prologis from a "sell" rating to a "hold" rating in a research report on Thursday, July 18th. Eight investment 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. Based on data from MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and a consensus price target of $131.12.

Prologis Stock Up 3.4 %

NYSE:PLD traded up $3.81 on Wednesday, hitting $116.56. 4,772,346 shares of the company's stock were exchanged, compared to its average volume of 3,648,672. The firm has a 50-day moving average price of $122.11 and a 200-day moving average price of $117.91. Prologis, Inc. has a 52 week low of $101.11 and a 52 week 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. The company has a market cap of $107.95 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results 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 the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business's revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 EPS. As a group, analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal 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 issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.29%. Prologis's payout ratio is 116.01%.

Insiders Place Their Bets

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

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.