Maple Capital Management Inc. Reduces Stock Holdings in Prologis, Inc. (NYSE:PLD)

Maple Capital Management Inc. lowered its position in Prologis, Inc. (NYSE:PLD) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,310 shares of the real estate investment trust’s stock after selling 85 shares during the quarter. Maple Capital Management Inc.’s holdings in Prologis were worth $292,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Semmax Financial Advisors Inc. purchased a new position in shares of Prologis in the second quarter valued at $27,000. American Capital Advisory LLC purchased a new position in shares of Prologis in the second quarter valued at $26,000. Central Valley Advisors LLC purchased a new position in shares of Prologis in the second quarter valued at $29,000. Sunbelt Securities Inc. increased its position 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 valued at $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis in the second quarter valued at $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PLD shares. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Barclays decreased their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group reaffirmed 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. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

Prologis Stock Performance

NYSE PLD opened at $118.01 on Tuesday. The firm has a market capitalization of $109.26 billion, a P/E ratio of 34.44, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50-day simple moving average is $125.39 and its 200-day simple moving average is $117.56.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share 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 analyst estimates of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 earnings per share. Equities analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis 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.