Investment Advisory Group LLC Sells 190 Shares of Prologis, Inc. (NYSE:PLD)

Investment Advisory Group LLC reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.6% during the third quarter, HoldingsChannel.com reports. The fund owned 7,036 shares of the real estate investment trust’s stock after selling 190 shares during the quarter. Investment Advisory Group LLC’s holdings in Prologis were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Valeo Financial Advisors LLC increased its stake in shares of Prologis by 182,067.2% during the 1st 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 purchasing an additional 48,850,448 shares during the last quarter. Swedbank AB bought a new position in Prologis during the first quarter valued at $596,614,000. Alphinity Investment Management Pty Ltd purchased a new stake in Prologis in the first quarter worth $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis in the second quarter valued at $203,223,000. Finally, Vanguard Group Inc. lifted its position in shares of Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Shares of PLD traded up $0.93 during trading hours on Tuesday, reaching $121.39. 5,379,595 shares of the company’s stock traded hands, compared to its average volume of 3,623,977. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm’s 50 day simple moving average is $125.26 and its 200-day simple moving average is $117.72. The stock has a market cap of $112.39 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 earnings per share. Equities analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.16%. Prologis’s dividend payout ratio is presently 112.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PLD shares. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Barclays dropped their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group increased their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $132.71.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on 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 sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Profile

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.