Prologis, Inc. (NYSE:PLD) Stake Cut by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 16.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 29,258 shares of the real estate investment trust’s stock after selling 5,880 shares during the period. Acadian Asset Management LLC’s holdings in Prologis were worth $3,284,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Destination Wealth Management grew its position in Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Prologis by 21.4% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 94 shares in the last quarter. Tiemann Investment Advisors LLC increased its stake in shares of Prologis by 2.4% in the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after acquiring an additional 100 shares during the last quarter. M&G Plc raised its holdings in shares of Prologis by 3.4% during the second quarter. M&G Plc now owns 3,010 shares of the real estate investment trust’s stock worth $337,000 after acquiring an additional 100 shares in the last quarter. Finally, Conning Inc. boosted its position in Prologis by 1.0% during the second quarter. Conning Inc. now owns 10,525 shares of the real estate investment trust’s stock valued at $1,182,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of Prologis stock opened at $130.35 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $120.68 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. The firm has a fifty day moving average price of $124.11 and a two-hundred day moving average price of $118.96. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business posted $1.83 EPS. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. Analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

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 shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Evercore ISI lifted their target price on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $133.12.

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.