Prologis, Inc. (NYSE:PLD) Shares Sold by Tobam

Tobam cut its stake in Prologis, Inc. (NYSE:PLDFree 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 %

Shares of Prologis stock opened at $118.28 on Friday. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market capitalization of $109.51 billion, a PE ratio of 34.58, a P/E/G ratio of 3.25 and a beta of 1.07. 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 has a 50-day moving average of $125.49 and a 200-day moving average of $117.96.

Prologis (NYSE:PLDGet 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

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLDFree Report).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.