Glen Eagle Advisors LLC Sells 1,130 Shares of Prologis, Inc. (NYSE:PLD)

Glen Eagle Advisors LLC reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 12.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 8,041 shares of the real estate investment trust’s stock after selling 1,130 shares during the period. Glen Eagle Advisors LLC’s holdings in Prologis were worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. ASB Consultores LLC increased its holdings in Prologis by 3.7% during the 3rd 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 period. Arbor Capital Management Inc. ADV grew its position in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after buying an additional 87 shares in the last quarter. CX Institutional increased its stake in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the period. Mitchell Sinkler & Starr PA raised its holdings in shares of Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 90 shares in the last quarter. Finally, Destination Wealth Management lifted its stake in Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 92 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PLD. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Evercore ISI lifted their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $130.13.

Prologis Price Performance

Shares of NYSE:PLD opened at $112.00 on Friday. 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 company has a market cap of $103.73 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 3.40 and a beta of 1.07. The company’s 50 day moving average is $117.84 and its 200 day moving average is $118.81.

Prologis (NYSE:PLD) last released 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 business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 EPS. On average, sell-side analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Monday, December 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

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.