Meeder Advisory Services Inc. Lowers Stake in Prologis, Inc. (NYSE:PLD)

Meeder Advisory Services Inc. cut its position in Prologis, Inc. (NYSE:PLD) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,157 shares of the real estate investment trust’s stock after selling 614 shares during the period. Meeder Advisory Services Inc.’s holdings in Prologis were worth $2,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PLD. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the second quarter worth $27,000. American Capital Advisory LLC purchased a new position in shares of Prologis during the second quarter valued at about $26,000. Central Valley Advisors LLC bought a new stake in shares of Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. lifted its position 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 worth $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Prologis during the second quarter valued at approximately $31,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLD has been the topic of several recent research reports. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. 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. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Wells Fargo & Company increased their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.18.

Prologis Stock Up 1.1 %

NYSE:PLD opened at $114.65 on Tuesday. The company has a market cap of $106.19 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $121.03 and a 200-day simple moving average of $118.23.

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

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.35%. Prologis’s payout ratio is 116.01%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 28.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by company insiders.

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.