Buckingham Capital Management Inc. Sells 8,031 Shares of Prologis, Inc. (NYSE:PLD)

Buckingham Capital Management Inc. lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 26.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,915 shares of the real estate investment trust's stock after selling 8,031 shares during the period. Buckingham Capital Management Inc.'s holdings in Prologis were worth $2,894,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of PLD. American Capital Advisory LLC purchased a new stake in shares of Prologis during the second quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the second quarter valued at about $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. increased 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 worth $29,000 after acquiring an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis during the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Morgan Stanley lifted their price target on Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a report on Wednesday, August 14th. Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Barclays lowered their target price on Prologis from $142.00 to $131.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. Finally, Truist Financial raised their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Eight investment 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, Prologis presently has an average rating of "Moderate Buy" and an average price target of $131.12.

Prologis Stock Down 1.5 %

Shares of NYSE:PLD traded down $1.73 on Monday, reaching $114.10. The company had a trading volume of 3,547,004 shares, compared to its average volume of 3,870,189. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $105.68 billion, a P/E ratio of 34.47, a P/E/G ratio of 3.04 and a beta of 1.08. The stock has a 50-day moving average price of $122.69 and a 200 day moving average price of $117.77. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the company earned $1.30 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The company 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. This represents a $3.84 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Monday, September 16th. Prologis's dividend 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 stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $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 accessible through this hyperlink. Company insiders own 0.50% of the company's stock.

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.