Prologis, Inc. (NYSE:PLD) Shares Sold by Payden & Rygel

Payden & Rygel lessened its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 117,700 shares of the real estate investment trust's stock after selling 14,900 shares during the period. Payden & Rygel's holdings in Prologis were worth $14,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. ASB Consultores LLC lifted its stake in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust's stock worth $306,000 after acquiring an additional 86 shares during the period. Arbor Capital Management Inc. ADV raised its stake in Prologis by 0.8% in the 2nd 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. CX Institutional lifted its position in Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust's stock worth $423,000 after acquiring an additional 88 shares during the period. Mitchell Sinkler & Starr PA increased its holdings 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 valued at $228,000 after purchasing an additional 90 shares during the period. Finally, Destination Wealth Management lifted its holdings in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust's stock worth $228,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Price Performance

Shares of PLD stock traded up $0.12 during trading hours on Thursday, reaching $114.66. The company had a trading volume of 735,850 shares, compared to its average volume of 3,629,532. The stock has a fifty day moving average of $120.36 and a 200-day moving average of $118.27. The company has a market capitalization of $106.19 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 3.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the firm posted $1.30 EPS. The company's revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Monday, September 16th. Prologis's dividend payout ratio is presently 116.01%.

Analyst Upgrades and Downgrades

Several analysts have commented on PLD shares. The Goldman Sachs Group restated a "neutral" rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Scotiabank lowered their price target on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Royal Bank of Canada cut Prologis from an "outperform" rating to a "sector perform" rating and boosted their price objective for the company from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday. Eight equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $131.18.

Insider Buying and Selling

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 completion of the transaction, the executive now owns 13,187 shares of the company's stock, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently 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.