Adell Harriman & Carpenter Inc. Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Adell Harriman & Carpenter Inc. cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 32.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,389 shares of the real estate investment trust's stock after selling 23,275 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in Prologis were worth $5,547,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Gilbert & Cook Inc. increased its stake in shares of Prologis by 4.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust's stock worth $731,000 after acquiring an additional 233 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Prologis by 48.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 7,084 shares of the real estate investment trust's stock worth $944,000 after acquiring an additional 2,312 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Prologis by 36.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,774 shares of the real estate investment trust's stock worth $903,000 after acquiring an additional 1,794 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of Prologis by 30.7% in the 4th quarter. Merit Financial Group LLC now owns 4,650 shares of the real estate investment trust's stock worth $620,000 after acquiring an additional 1,092 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its stake in Prologis by 7.0% during the 4th quarter. Summit Trail Advisors LLC now owns 9,074 shares of the real estate investment trust's stock valued at $1,210,000 after purchasing an additional 597 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

PLD traded up $0.54 during trading hours on Tuesday, hitting $128.36. The company's stock had a trading volume of 3,526,147 shares, compared to its average volume of 3,633,613. The business's 50-day moving average price is $121.32 and its 200-day moving average price is $118.99. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a market cap of $118.85 billion, a price-to-earnings ratio of 37.37, a P/E/G ratio of 3.28 and a beta of 1.06. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm's quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.83 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 2.99%. Prologis's dividend payout ratio (DPR) is presently 112.28%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on PLD shares. Bank of America restated a "neutral" rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Scotiabank raised their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a "sector outperform" rating in a research note on Monday, August 26th. BMO Capital Markets restated a "market perform" rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. StockNews.com upgraded shares of Prologis from a "sell" rating to a "hold" rating in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.12.

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.