Prologis, Inc. (NYSE:PLD) Shares Sold by Hixon Zuercher LLC

Hixon Zuercher LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,982 shares of the real estate investment trust’s stock after selling 982 shares during the quarter. Hixon Zuercher LLC’s holdings in Prologis were worth $2,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Norden Group LLC grew its stake in Prologis by 15.3% during the 1st quarter. Norden Group LLC now owns 5,008 shares of the real estate investment trust’s stock valued at $652,000 after purchasing an additional 664 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Prologis in the first quarter worth $203,000. GSA Capital Partners LLP bought a new stake in shares of Prologis in the first quarter worth $1,172,000. Catalina Capital Group LLC acquired a new stake in Prologis in the first quarter valued at $227,000. Finally, Signaturefd LLC boosted its stake in Prologis by 7.7% during the 1st quarter. Signaturefd LLC now owns 13,668 shares of the real estate investment trust’s stock valued at $1,780,000 after acquiring an additional 979 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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 completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Barclays dropped their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Eight 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.12.

Prologis Price Performance

Shares of NYSE:PLD opened at $114.38 on Wednesday. The firm’s 50 day moving average is $123.42 and its two-hundred day moving average is $117.55. The firm has a market capitalization of $105.94 billion, a P/E ratio of 34.56, a PEG ratio of 2.97 and a beta of 1.08. 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 52 week low of $101.11 and a 52 week high of $137.52.

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

Prologis Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.36%. Prologis’s payout ratio is 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.