Prologis, Inc. (NYSE:PLD) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 11.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,379 shares of the real estate investment trust's stock after selling 20,105 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Prologis were worth $20,253,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Semmax Financial Advisors Inc. acquired a new position in Prologis during the second quarter worth $27,000. American Capital Advisory LLC bought a new stake in Prologis in the 2nd quarter valued at approximately $26,000. Central Valley Advisors LLC bought a new stake in shares of Prologis during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. increased its holdings in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter worth approximately $31,000. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. Truist Financial increased their price target on Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research note on Monday, August 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Royal Bank of Canada lowered Prologis from an "outperform" rating to a "sector perform" rating and raised their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Finally, StockNews.com upgraded Prologis from a "sell" rating to a "hold" rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $131.12.

Prologis Price Performance

PLD stock traded down $1.33 during mid-day trading on Tuesday, hitting $112.77. 886,917 shares of the stock were exchanged, compared to its average volume of 3,635,225. Prologis, Inc. has a 12 month low of $101.11 and a 12 month 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. The business has a fifty day moving average price of $122.42 and a 200 day moving average price of $117.85. The stock has a market capitalization of $104.44 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 3.04 and a beta of 1.08.

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

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.41%. Prologis's payout ratio is 116.01%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by 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.