Tobam cut its stake in Prologis, Inc. (NYSE:PLD – Free Report) by 30.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,038 shares of the real estate investment trust’s stock after selling 447 shares during the period. Tobam’s holdings in Prologis were worth $131,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of the stock. Optimum Investment Advisors purchased a new position in Prologis during the 1st quarter worth approximately $26,000. American Capital Advisory LLC acquired a new position in Prologis during the second quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the second quarter valued at $27,000. Central Valley Advisors LLC acquired a new stake in Prologis during the 2nd quarter worth about $29,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Prologis by 640.0% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.
Insiders Place Their Bets
In related 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 transaction, the executive now 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 Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.
Prologis Stock Down 0.5 %
Prologis (NYSE:PLD – Get Free Report) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, equities analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.
Prologis Announces Dividend
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 annualized dividend and a yield of 3.25%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.
Analyst Upgrades and Downgrades
Several research firms recently commented on PLD. Evercore ISI raised their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Bank of America reissued a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Scotiabank lifted their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, Argus increased their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.71.
Read Our Latest Analysis on PLD
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.
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