Prologis, Inc. (NYSE:PLD) Stake Lessened by Sarasin & Partners LLP

Sarasin & Partners LLP decreased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 934,048 shares of the real estate investment trust's stock after selling 95,921 shares during the period. Sarasin & Partners LLP owned about 0.10% of Prologis worth $117,952,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PLD. Arbor Capital Management Inc. ADV increased its position in shares of Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust's stock worth $1,299,000 after acquiring an additional 87 shares during the last quarter. Mitchell Sinkler & Starr PA increased its stake in shares of Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust's stock worth $228,000 after buying an additional 90 shares during the last quarter. Destination Wealth Management raised its holdings in Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust's stock valued at $228,000 after acquiring an additional 92 shares in the last quarter. CVA Family Office LLC boosted its stake in Prologis by 21.4% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 94 shares during the last quarter. Finally, Tiemann Investment Advisors LLC grew its holdings in Prologis by 2.4% during the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust's stock worth $549,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PLD shares. Truist Financial increased their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. BMO Capital Markets restated a "market perform" rating and issued a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Evercore ISI increased their price target on Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Bank of America reissued a "neutral" rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Royal Bank of Canada lowered shares of Prologis from an "outperform" rating to a "sector perform" rating and upped their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $132.71.

Prologis Price Performance

Shares of PLD stock traded up $1.93 during mid-day trading on Friday, hitting $120.21. 2,711,997 shares of the stock traded hands, compared to its average volume of 3,623,040. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The company's 50-day simple moving average is $125.30 and its 200-day simple moving average is $117.96. The firm has a market cap of $111.30 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD - Get Free Report) last released its 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 return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $1.83 earnings per share. Prologis's revenue was down 18.1% on a year-over-year basis. As a group, equities research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

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 was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.19%. Prologis's dividend payout ratio is currently 126.73%.

Insider Activity

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 value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.50% of the company's stock.

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.