Prologis, Inc. (NYSE:PLD) is Archer Investment Corp’s 9th Largest Position

Archer Investment Corp lowered its stake in Prologis, Inc. (NYSE:PLD) by 0.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,519 shares of the real estate investment trust’s stock after selling 230 shares during the quarter. Prologis makes up about 1.7% of Archer Investment Corp’s holdings, making the stock its 9th biggest position. Archer Investment Corp’s holdings in Prologis were worth $6,253,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Swedbank AB acquired a new stake in Prologis in the 1st quarter valued at $596,614,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Prologis in the second quarter worth $203,223,000. Vanguard Group Inc. increased its holdings in shares of Prologis by 1.2% during the first 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 purchasing an additional 1,460,229 shares during the period. AMF Tjanstepension AB boosted its stake in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after buying an additional 1,358,542 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.5 %

Prologis stock traded down $0.57 during midday trading on Friday, hitting $114.18. 492,352 shares of the company’s stock were exchanged, compared to its average volume of 3,639,447. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The firm has a 50-day moving average of $121.62 and a two-hundred day moving average of $117.88. The company has a market cap of $105.75 billion, a PE ratio of 34.50, a P/E/G ratio of 3.06 and a beta of 1.08.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. 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 3.36%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLD. Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Scotiabank dropped their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Barclays cut their target price on 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 raised their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.12.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction 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 transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

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.