Austin Private Wealth LLC Trims Position in Prologis, Inc. (NYSE:PLD)

Austin Private Wealth LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,202 shares of the real estate investment trust’s stock after selling 114 shares during the quarter. Austin Private Wealth LLC’s holdings in Prologis were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLD. ASB Consultores LLC grew its stake in shares of Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV grew its position in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after buying an additional 87 shares during the last quarter. CX Institutional increased its stake in Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the period. Mitchell Sinkler & Starr PA raised its position in Prologis by 5.1% during the 2nd 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 raised its position in Prologis by 4.7% during the 2nd 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. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis 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 sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PLD shares. Scotiabank lowered their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Barclays cut their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets restated a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Finally, Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Price Performance

NYSE:PLD traded down $0.72 during mid-day trading on Tuesday, hitting $113.14. 315,250 shares of the company’s stock traded hands, compared to its average volume of 3,633,508. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $104.79 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 2.97 and a beta of 1.08. The firm’s 50 day simple moving average is $123.71 and its 200 day simple moving average is $117.47. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

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 for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. Sell-side analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared 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 3.39%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.