Exchange Traded Concepts LLC Acquires 1,424 Shares of Prologis, Inc. (NYSE:PLD)

Exchange Traded Concepts LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 29.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,229 shares of the real estate investment trust’s stock after acquiring an additional 1,424 shares during the period. Exchange Traded Concepts LLC’s holdings in Prologis were worth $787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimum Investment Advisors bought a new stake in shares of Prologis in the 1st quarter valued at approximately $26,000. American Capital Advisory LLC purchased a new position in Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. purchased a new position in Prologis during the second quarter worth $27,000. Central Valley Advisors LLC bought a new position in Prologis during the second quarter valued at $29,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Trading Down 3.3 %

Shares of NYSE:PLD opened at $122.74 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $113.64 billion, a PE ratio of 35.89, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The business’s fifty day simple moving average is $125.42 and its 200-day simple moving average is $117.76.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. Prologis’s payout ratio is 112.28%.

Analyst Upgrades and Downgrades

PLD has been the topic of several analyst reports. The Goldman Sachs Group upped their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Scotiabank increased their price target on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Truist Financial boosted their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays reduced their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned 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 target price of $132.71.

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.