Payden & Rygel Decreases Position in Prologis, Inc. (NYSE:PLD)

Payden & Rygel trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,700 shares of the real estate investment trust’s stock after selling 14,900 shares during the quarter. Payden & Rygel’s holdings in Prologis were worth $14,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC grew its holdings in shares of Prologis by 86.7% during the first quarter. CreativeOne Wealth LLC now owns 5,432 shares of the real estate investment trust’s stock valued at $707,000 after buying an additional 2,522 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Prologis by 13.2% during the first quarter. EP Wealth Advisors LLC now owns 12,344 shares of the real estate investment trust’s stock worth $1,607,000 after acquiring an additional 1,442 shares during the period. Capital International Inc. CA raised its position in Prologis by 24.4% during the first quarter. Capital International Inc. CA now owns 33,825 shares of the real estate investment trust’s stock valued at $4,405,000 after acquiring an additional 6,624 shares in the last quarter. Capital Research Global Investors lifted its holdings in Prologis by 0.8% in the first quarter. Capital Research Global Investors now owns 5,340,371 shares of the real estate investment trust’s stock valued at $695,423,000 after acquiring an additional 43,538 shares during the period. Finally, Truvestments Capital LLC boosted its position in Prologis by 60.8% in the 1st quarter. Truvestments Capital LLC now owns 1,770 shares of the real estate investment trust’s stock worth $230,000 after purchasing an additional 669 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Down 0.5 %

Shares of NYSE PLD opened at $114.54 on Thursday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The stock has a market cap of $106.08 billion, a P/E ratio of 34.60, a PEG ratio of 2.98 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. The business’s fifty day simple moving average is $120.36 and its 200-day simple moving average is $118.27.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PLD shares. Evercore ISI lifted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Truist Financial increased 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. Bank of America reaffirmed a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Morgan Stanley upped their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.18.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by insiders.

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.