Crossmark Global Holdings Inc. Has $5.45 Million Position in Prologis, Inc. (NYSE:PLD)

Crossmark Global Holdings Inc. reduced its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 63.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,150 shares of the real estate investment trust's stock after selling 76,161 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Prologis were worth $5,449,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust's stock worth $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Dimensional Fund Advisors LP raised its holdings in Prologis by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust's stock valued at $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust's stock valued at $1,377,588,000 after purchasing an additional 167,131 shares during the last quarter. Centersquare Investment Management LLC raised its stake in shares of Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust's stock valued at $890,728,000 after acquiring an additional 367,565 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Prologis by 16.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust's stock valued at $767,398,000 after buying an additional 958,914 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company's stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by insiders.

Prologis Stock Performance

Prologis stock traded down $1.12 during mid-day trading on Tuesday, reaching $112.98. The company's stock had a trading volume of 555,273 shares, compared to its average volume of 3,633,710. The firm has a market cap of $104.64 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 3.04 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The business has a 50 day moving average price of $122.42 and a 200-day moving average price of $117.85. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

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

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid 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 3.40%. Prologis's payout ratio is 116.01%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank of Canada downgraded shares of Prologis from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Truist Financial upped their target price on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. BMO Capital Markets reaffirmed a "market perform" rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Finally, Scotiabank reduced their target price on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.12.

Prologis 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.