GSA Capital Partners LLP Lowers Holdings in Prologis, Inc. (NYSE:PLD)

GSA Capital Partners LLP trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 43.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,790 shares of the real estate investment trust's stock after selling 4,454 shares during the period. GSA Capital Partners LLP's holdings in Prologis were worth $731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Waverton Investment Management Ltd raised its position in shares of Prologis by 9.5% in the third quarter. Waverton Investment Management Ltd now owns 315,976 shares of the real estate investment trust's stock valued at $39,903,000 after buying an additional 27,545 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Prologis by 13.2% in the third quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust's stock valued at $393,000 after purchasing an additional 364 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of Prologis by 0.9% in the third quarter. Apollon Wealth Management LLC now owns 17,772 shares of the real estate investment trust's stock valued at $2,244,000 after purchasing an additional 157 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Prologis by 7.7% in the third quarter. Venturi Wealth Management LLC now owns 9,973 shares of the real estate investment trust's stock valued at $1,259,000 after purchasing an additional 710 shares during the period. Finally, Cottonwood Capital Advisors LLC purchased a new stake in shares of Prologis in the third quarter valued at about $217,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PLD shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Morgan Stanley upped their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a report on Wednesday, August 14th. Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 28th. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Finally, Bank of America reaffirmed a "neutral" rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. 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 company's stock. According to MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $131.18.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were 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 of the company's stock, valued at $1,702,046.09. The trade was a 28.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by corporate insiders.

Prologis Stock Up 1.1 %

NYSE:PLD traded up $1.23 during mid-day trading on Monday, hitting $114.65. The stock had a trading volume of 2,399,118 shares, compared to its average volume of 3,649,174. The stock has a 50-day simple moving average of $121.03 and a two-hundred day simple moving average of $118.23. The company has a market capitalization of $106.19 billion, a PE ratio of 34.64, a PEG ratio of 2.98 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 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 earnings results 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). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm's revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS. On average, equities research analysts anticipate 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. Investors of record on Monday, September 16th were issued a $0.96 dividend. 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 116.01%.

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.