Joseph Ghazal Sells 5,200 Shares of Prologis, Inc. (NYSE:PLD) Stock

Prologis, Inc. (NYSE:PLD - Get Free Report) 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 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Prologis Stock Up 0.0 %

PLD traded up $0.02 during trading hours on Monday, hitting $128.88. 2,278,649 shares of the company's stock were exchanged, compared to its average volume of 3,658,372. The firm has a market cap of $119.32 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $119.59 and a 200 day moving average of $119.14.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business earned $1.83 EPS. Prologis's revenue for the quarter was down 18.1% on a year-over-year basis. Analysts predict that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLD has been the topic of several research reports. Argus raised their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Morgan Stanley increased their price target on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. StockNews.com raised shares of Prologis from a "sell" rating to a "hold" rating in a research report on Thursday, July 18th. Bank of America reiterated a "neutral" rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Finally, Mizuho reduced their target price on Prologis from $130.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, May 31st. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $132.19.

Hedge Funds Weigh In On Prologis

A number of institutional investors and hedge funds have recently modified their holdings of PLD. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust's stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust's stock worth $1,483,594,000 after purchasing an additional 317,815 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust's stock valued at $1,670,621,000 after purchasing an additional 365,904 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Prologis by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust's stock worth $1,642,997,000 after buying an additional 123,902 shares during the last quarter. Institutional investors and hedge funds own 93.50% 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.