Parcion Private Wealth LLC Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

Parcion Private Wealth LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 9.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,136 shares of the real estate investment trust’s stock after selling 225 shares during the period. Parcion Private Wealth LLC’s holdings in Prologis were worth $270,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new stake in Prologis during the second quarter valued at about $26,000. Semmax Financial Advisors Inc. purchased a new position in shares of Prologis in the second quarter worth about $27,000. Central Valley Advisors LLC purchased a new position in shares of Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. increased its holdings in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis in the second quarter worth about $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of Prologis stock opened at $117.54 on Friday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock’s fifty day moving average is $125.06 and its 200 day moving average is $117.44. The stock has a market cap of $108.82 billion, a P/E ratio of 34.37, a P/E/G ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share. Sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.27%. Prologis’s dividend payout ratio is currently 112.28%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were 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 of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLD. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Scotiabank reduced their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday. BMO Capital Markets restated a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Company 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.