Prologis, Inc. (NYSE:PLD) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,821 shares of the real estate investment trust’s stock after selling 501 shares during the quarter. Prologis accounts for about 0.9% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 20th biggest holding. Sheaff Brock Investment Advisors LLC’s holdings in Prologis were worth $10,459,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Semmax Financial Advisors Inc. acquired a new stake in Prologis during the second quarter valued at approximately $27,000. American Capital Advisory LLC bought a new stake in shares of Prologis during the 2nd quarter worth $26,000. Central Valley Advisors LLC bought a new stake in shares of Prologis during the 2nd quarter worth $29,000. Sunbelt Securities Inc. grew its holdings in shares of Prologis by 640.0% in the 2nd 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 during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis during the second quarter worth $31,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PLD shares. Truist Financial increased their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Scotiabank dropped their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Argus raised their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Price Performance

NYSE PLD opened at $114.75 on Friday. The company has a 50 day moving average price of $121.87 and a two-hundred day moving average price of $117.90. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The stock has a market capitalization of $106.28 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 3.06 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.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. As a group, equities analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is 116.01%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction 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 completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 28.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

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.