Prestige Wealth Management Group LLC reduced its stock position in Prologis, Inc. (NYSE:PLD)

Prestige Wealth Management Group LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 93.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 734 shares of the real estate investment trust’s stock after selling 11,113 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Prologis were worth $82,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Prologis by 1.2% in the first 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 last quarter. Valeo Financial Advisors LLC grew its position in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after acquiring an additional 365,904 shares during the period. Principal Financial Group Inc. raised its position in Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after purchasing an additional 167,131 shares during the last quarter. Finally, Norges Bank acquired a new stake in Prologis in the fourth quarter valued at $1,074,648,000. Institutional investors and hedge funds own 93.50% of the company’s shares.

The Wall Street analyst weighs in

A number of research firms have commented on PLD. Barclays lifted their price objective on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Mizuho reduced their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. 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. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Goldman Sachs Group boosted their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Seven 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. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.12, according to MarketBeat.

See the latest stock report on PLD

Insiders place their bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the director now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. 0.50% of shares are currently held by company insiders.

Prologis price performance

Shares of NYSE:PLD opened at $127.23 on Monday. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm has a market cap of $117.80 billion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 3.28 and a beta of 1.07. The company’s 50-day simple moving average is $122.67, and its 200-day simple moving average is $118.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36, and a quick ratio of 0.36.

Prologis (NYSE:PLD – Get Your Free Report ) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 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 analysts’ expectations of $1.86 billion. In the same quarter last year, the company posted earnings of $1.83 per share. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, equities analysts estimate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16. This represents an annualized dividend of $3.84 and a yield of 3.02%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Prologis Company Profile

(Free report)

Prologis, Inc is the global leader in real estate logistics with a focus on high barrier and high growth markets. As of March 31, 2024, the company owned or had investments in, on a wholly owned or co-investment basis, properties and development projects estimated to total approximately 1.2 billion square meters (115 million square feet) in 19 countries.

See Also

Want to see what other hedge funds own PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Prologis, Inc. (NYSE:PLD – Free Report).

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