Eagle Asset Management Inc. Sells 61,908 Shares of Prologis, Inc. (NYSE:PLD)

Eagle Asset Management Inc. lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 910,760 shares of the real estate investment trust’s stock after selling 61,908 shares during the period. Eagle Asset Management Inc. owned 0.10% of Prologis worth $105,493,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. ASB Consultores LLC boosted its holdings in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its holdings in Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after buying an additional 87 shares during the last quarter. CX Institutional boosted its holdings in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its holdings in Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 90 shares during the last quarter. Finally, Destination Wealth Management boosted its holdings in Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 92 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PLD. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, 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. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Prologis Stock Performance

Shares of NYSE PLD opened at $113.97 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The stock has a 50 day moving average of $120.04 and a 200-day moving average of $118.24. The company has a market capitalization of $105.56 billion, a P/E ratio of 34.43, a P/E/G ratio of 3.03 and a beta of 1.08.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. As a group, equities research analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.37%. Prologis’s dividend payout ratio is presently 116.01%.

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.