Freedom Investment Management Inc. Sells 363 Shares of Prologis, Inc. (NYSE:PLD)

Freedom Investment Management Inc. lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,403 shares of the real estate investment trust’s stock after selling 363 shares during the period. Freedom Investment Management Inc.’s holdings in Prologis were worth $935,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Swedbank AB grew its holdings in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Sunflower Bank N.A. acquired a new position in Prologis during the 3rd quarter valued at $249,000. Cetera Advisors LLC raised its stake in Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after purchasing an additional 20,623 shares during the last quarter. Finally, Abundance Wealth Counselors acquired a new stake in Prologis in the 2nd quarter worth $973,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.4 %

Shares of PLD opened at $117.80 on Friday. The company has a market capitalization of $109.10 billion, a P/E ratio of 35.59, a PEG ratio of 3.45 and a beta of 1.08. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The business’s 50 day simple moving average is $118.87 and its 200-day simple moving average is $118.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal 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 paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLD. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Morgan Stanley raised their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Finally, Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the company 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, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

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.