Freedom Investment Management Inc. Sells 363 Shares of Prologis, Inc. (NYSE:PLD)

Freedom Investment Management Inc. reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,403 shares of the real estate investment trust’s stock after selling 363 shares during the quarter. Freedom Investment Management Inc.’s holdings in Prologis were worth $935,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Swedbank AB raised its stake in shares of Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Sunflower Bank N.A. bought a new stake in shares of Prologis during the 3rd quarter valued at $249,000. Cetera Advisors LLC lifted its stake in shares of Prologis by 118.7% in the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after purchasing an additional 20,623 shares during the period. Finally, Abundance Wealth Counselors bought a new position in shares of Prologis in the 2nd quarter worth $973,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

PLD opened at $117.80 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $109.10 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 3.45 and a beta of 1.08. The business’s 50-day moving average price is $118.87 and its two-hundred day moving average price is $118.60. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Analysts Set New Price Targets

PLD has been the subject of a number of recent analyst reports. Scotiabank dropped their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Evercore ISI upped their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.25.

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.