Easterly Investment Partners LLC Has $2.33 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Easterly Investment Partners LLC decreased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 71.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,448 shares of the real estate investment trust's stock after selling 47,317 shares during the quarter. Easterly Investment Partners LLC's holdings in Prologis were worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of PLD. Swedbank AB acquired a new position in Prologis during the 1st quarter worth approximately $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis in the 2nd quarter worth $203,223,000. Vanguard Group Inc. raised its position in 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. AMF Tjanstepension AB increased its holdings in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after buying an additional 1,365,811 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock worth $199,343,000 after purchasing an additional 1,358,542 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

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 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Prologis Trading Up 1.4 %

PLD stock traded up $1.62 during midday trading on Friday, reaching $115.83. 3,247,380 shares of the company's stock traded hands, compared to its average volume of 3,648,279. The company has a market capitalization of $107.28 billion, a P/E ratio of 34.99, a PEG ratio of 2.98 and a beta of 1.08. The business has a 50-day moving average price of $122.69 and a two-hundred day moving average price of $117.58. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

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

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, September 16th. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PLD shares. Barclays dropped their price objective on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. Morgan Stanley upped their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th. StockNews.com upgraded Prologis from a "sell" rating to a "hold" rating in a 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, Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Eight 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, Prologis presently has a consensus rating of "Moderate Buy" and an average price target of $131.12.

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.