Weaver Capital Management LLC Trims Holdings in Prologis, Inc. (NYSE:PLD)

Weaver Capital Management LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 56.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,213 shares of the real estate investment trust's stock after selling 5,404 shares during the period. Weaver Capital Management LLC's holdings in Prologis were worth $473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised 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 worth $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC boosted its stake in Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust's stock valued at $6,364,799,000 after acquiring an additional 48,850,448 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Prologis by 3.0% during the fourth 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 last quarter. Principal Financial Group Inc. raised its position in shares of 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 purchasing an additional 123,902 shares during the period. Finally, Norges Bank acquired a new position in Prologis during the 4th quarter valued at approximately $1,074,648,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. Argus increased their price target on Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Barclays raised their target price on shares of Prologis from $123.00 to $142.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. StockNews.com upgraded 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 target price on shares of Prologis in a research report on Monday, August 12th. Finally, Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.12.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was 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 owns 13,187 shares of the company's stock, valued at $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by insiders.

Prologis Trading Down 0.1 %

PLD traded down $0.11 during trading on Wednesday, hitting $128.26. The company's stock had a trading volume of 3,091,466 shares, compared to its average volume of 3,630,425. The stock's fifty day moving average price is $121.69 and its 200-day moving average price is $118.95. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The firm has a market capitalization of $118.76 billion, a P/E ratio of 37.53, a PEG ratio of 3.28 and a beta of 1.06. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

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

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, September 16th. Prologis's payout ratio is currently 112.28%.

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.