Prologis, Inc. (NYSE:PLD) Holdings Decreased by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its stake in Prologis, Inc. (NYSE:PLD) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,222 shares of the real estate investment trust’s stock after selling 1,067 shares during the period. Hartford Investment Management Co.’s holdings in Prologis were worth $7,352,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the second quarter valued at approximately $27,000. American Capital Advisory LLC acquired a new position in shares of Prologis during the 2nd quarter valued at $26,000. Central Valley Advisors LLC bought a new stake in shares of Prologis in the 2nd quarter worth $29,000. Sunbelt Securities Inc. lifted its holdings 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 during the period. Finally, Wetzel Investment Advisors Inc. bought a new position in Prologis during the second quarter valued at about $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.1 %

PLD traded up $0.17 during trading on Wednesday, reaching $119.11. 144,928 shares of the stock traded hands, compared to its average volume of 3,625,656. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock’s 50-day simple moving average is $125.31 and its two-hundred day simple moving average is $117.51. The stock has a market cap of $110.28 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued 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). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business posted $1.30 EPS. Prologis’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.22%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

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 stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial boosted their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays cut their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Argus lifted their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Finally, Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

About Prologis

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.