Prologis, Inc. (NYSE:PLD) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. cut its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 62.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,500 shares of the real estate investment trust's stock after selling 287,798 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Prologis were worth $22,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB raised its stake in shares of Prologis by 9.2% during the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust's stock worth $561,805,000 after buying an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock valued at $18,305,000 after acquiring an additional 43,235 shares during the period. US Bancorp DE boosted its position in shares of Prologis by 6.5% during the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust's stock worth $88,148,000 after purchasing an additional 41,469 shares in the last quarter. Sunflower Bank N.A. acquired a new position in shares of Prologis during the 3rd quarter worth $249,000. Finally, Centersquare Investment Management LLC increased its holdings 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 purchasing an additional 367,565 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on PLD shares. StockNews.com raised shares of Prologis from a "sell" rating to a "hold" rating in a report on Thursday, July 18th. Royal Bank of Canada downgraded Prologis from an "outperform" rating to a "sector perform" rating and raised their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Bank of America reaffirmed a "neutral" rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Argus upped their target price on Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price target on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. Eight equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $131.12.

Prologis Trading Up 1.4 %

Shares of Prologis stock traded up $1.62 during trading hours on Friday, reaching $115.83. 3,250,928 shares of the company's stock were exchanged, compared to its average volume of 3,856,753. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The company has a fifty day moving average of $122.69 and a 200-day moving average of $117.67. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $107.28 billion, a price-to-earnings ratio of 34.99, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly 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 business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business posted $1.30 earnings per share. The firm's quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by company 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.