Thrivent Financial for Lutherans Trims Position in Prologis, Inc. (NYSE:PLD)

Thrivent Financial for Lutherans decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 2.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 268,258 shares of the real estate investment trust’s stock after selling 6,318 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Prologis were worth $30,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PLD. Sei Investments Co. increased its position in Prologis by 9.6% during the second quarter. Sei Investments Co. now owns 2,635,142 shares of the real estate investment trust’s stock worth $295,953,000 after purchasing an additional 231,427 shares during the last quarter. Pacer Advisors Inc. increased its position in Prologis by 8.7% during the second quarter. Pacer Advisors Inc. now owns 333,299 shares of the real estate investment trust’s stock worth $37,433,000 after purchasing an additional 26,659 shares during the last quarter. AE Wealth Management LLC increased its position in Prologis by 16.6% during the second quarter. AE Wealth Management LLC now owns 192,874 shares of the real estate investment trust’s stock worth $21,662,000 after purchasing an additional 27,421 shares during the last quarter. King Luther Capital Management Corp increased its position in Prologis by 48.9% during the second quarter. King Luther Capital Management Corp now owns 22,202 shares of the real estate investment trust’s stock worth $2,494,000 after purchasing an additional 7,287 shares during the last quarter. Finally, Bridges Investment Management Inc. increased its position in Prologis by 508.8% during the second quarter. Bridges Investment Management Inc. now owns 132,325 shares of the real estate investment trust’s stock worth $14,861,000 after purchasing an additional 110,590 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Prologis Price Performance

Shares of PLD stock opened at $126.63 on Tuesday. The company has a market capitalization of $117.24 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The firm has a fifty day simple moving average of $125.59 and a 200-day simple moving average of $118.50. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last announced 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 firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $1.83 earnings per share. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. Equities research analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.03%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Truist Financial increased their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank increased their price objective on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Finally, Wells Fargo & Company increased their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.35.

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.