Austin Private Wealth LLC Lowers Stake in Prologis, Inc. (NYSE:PLD)

Austin Private Wealth LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,202 shares of the real estate investment trust’s stock after selling 114 shares during the quarter. Austin Private Wealth LLC’s holdings in Prologis were worth $278,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Global Wealth Management Investment Advisory Inc. increased its position in Prologis by 10.8% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 4,416 shares of the real estate investment trust’s stock valued at $558,000 after buying an additional 430 shares in the last quarter. W.H. Cornerstone Investments Inc. lifted its position in Prologis by 29.0% during the 3rd quarter. W.H. Cornerstone Investments Inc. now owns 2,414 shares of the real estate investment trust’s stock worth $305,000 after acquiring an additional 542 shares during the period. ASB Consultores LLC raised its stake in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 86 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Prologis during the third quarter worth about $255,000. Finally, Red Cedar Investment Management LLC purchased a new stake in Prologis in the third quarter valued at approximately $1,230,000. 93.50% of the stock is owned by institutional investors.

Insider Activity

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 value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Prologis Trading Down 0.6 %

Prologis stock traded down $0.72 during midday trading on Tuesday, reaching $113.14. 315,250 shares of the stock traded hands, compared to its average volume of 3,633,508. 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 firm has a market cap of $104.79 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 2.97 and a beta of 1.08. The company has a 50-day simple moving average of $123.71 and a two-hundred day simple moving average of $117.47. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results 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). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 earnings per share. Research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently declared 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 was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.39%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays decreased their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis 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.