Prologis, Inc. (NYSE:PLD) Shares Sold by United Services Automobile Association

United Services Automobile Association lowered its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 18.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,332 shares of the real estate investment trust's stock after selling 4,788 shares during the quarter. United Services Automobile Association's holdings in Prologis were worth $2,694,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. American Capital Advisory LLC bought a new position in Prologis during the second quarter valued at $26,000. Semmax Financial Advisors Inc. bought a new position in Prologis during the 2nd quarter valued at about $27,000. Sunbelt Securities Inc. raised its position in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 224 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Prologis in the 2nd quarter worth about $31,000. Finally, Hara Capital LLC bought a new stake in Prologis in the third quarter worth about $48,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Down 1.6 %

PLD stock traded down $1.79 during trading on Friday, reaching $112.00. 3,650,844 shares of the company traded hands, compared to its average volume of 3,499,513. The business has a 50 day simple moving average of $117.57 and a 200 day simple moving average of $118.93. 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 quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $103.73 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 earnings per share. On average, equities research analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.96 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.43%. Prologis's payout ratio is 116.01%.

Analyst Ratings Changes

A number of research analysts have recently commented on PLD shares. Scotiabank cut their target price on Prologis from $136.00 to $134.00 and set a "sector outperform" rating on the stock in a research note on Wednesday. Barclays upped their price objective on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. BMO Capital Markets downgraded Prologis from a "market perform" rating to an "underperform" rating and decreased their target price for the stock from $120.00 to $104.00 in a research report on Friday. Truist Financial cut their price target on shares of Prologis from $137.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.13.

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.