Dana Investment Advisors Inc. Sells 1,050 Shares of Prologis, Inc. (NYSE:PLD)

Dana Investment Advisors Inc. decreased its holdings in Prologis, Inc. (NYSE:PLD) by 17.9% in the second quarter, Holdings Channel reports. The fund owned 4,811 shares of the real estate investment trust’s stock after selling 1,050 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Prologis were worth $540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Nordea Investment Management AB lifted its stake in shares of Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB lifted its position in Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake 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 buying an additional 43,235 shares during the period. US Bancorp DE increased its position in Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after acquiring an additional 41,469 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its stake in shares of Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after acquiring an additional 367,565 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PLD. Scotiabank lifted their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s 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 completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.

Prologis Trading Down 1.7 %

NYSE PLD opened at $122.02 on Friday. The firm has a market cap of $112.97 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average price of $125.86 and a 200 day moving average price of $118.27.

Prologis (NYSE:PLD) last issued its quarterly 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). The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 EPS. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.15%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.