Baillie Gifford & Co. Has $24.78 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Baillie Gifford & Co. cut its position in Prologis, Inc. (NYSE:PLD) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,217 shares of the real estate investment trust’s stock after selling 66,893 shares during the period. Baillie Gifford & Co.’s holdings in Prologis were worth $24,778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. American Capital Advisory LLC bought a new position in shares of Prologis in the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis in the second quarter valued at $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis during the second quarter valued at about $29,000. Sunbelt Securities Inc. increased its position in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis in the 2nd quarter worth about $31,000. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

PLD opened at $112.75 on Wednesday. The company has a market capitalization of $104.43 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 3.04 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $122.42 and a 200-day moving average price of $117.85. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last issued 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 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 firm earned $1.30 EPS. The company’s 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 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. This represents a $3.84 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is presently 116.01%.

Insider Activity

In other 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 value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Evercore ISI boosted their price objective 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 downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Bank of America restated a “neutral” rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Eight investment 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’s stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $131.12.

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.