GSA Capital Partners LLP Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

GSA Capital Partners LLP lowered its stake in Prologis, Inc. (NYSE:PLD) by 43.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,790 shares of the real estate investment trust’s stock after selling 4,454 shares during the quarter. GSA Capital Partners LLP’s holdings in Prologis were worth $731,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after acquiring an additional 317,815 shares during the period. Principal Financial Group Inc. lifted its stake in Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after purchasing an additional 167,131 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Prologis by 16.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock valued at $767,398,000 after purchasing an additional 958,914 shares in the last quarter. Lazard Asset Management LLC increased its stake in Prologis by 5.9% during the first quarter. Lazard Asset Management LLC now owns 6,126,318 shares of the real estate investment trust’s stock worth $797,767,000 after acquiring an additional 340,948 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in Prologis by 0.8% during the 1st quarter. Capital Research Global Investors now owns 5,340,371 shares of the real estate investment trust’s stock valued at $695,423,000 after acquiring an additional 43,538 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of several research reports. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Bank of America reaffirmed a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Scotiabank reduced their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Barclays lowered their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $113.42 on Monday. The company’s fifty day simple moving average is $121.34 and its 200-day simple moving average is $118.16. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a market cap of $105.05 billion, a PE ratio of 34.27, a P/E/G ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

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.