Lake Street Private Wealth LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Lake Street Private Wealth LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,718 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Prologis were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. Vanguard Group Inc. grew its position in Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after buying an additional 48,850,448 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Prologis by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Prologis by 1.4% during the second 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 acquiring an additional 167,131 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after acquiring an additional 367,565 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $120.82 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The firm has a 50-day moving average of $125.26 and a 200 day moving average of $117.54. The company has a market cap of $111.86 billion, a P/E ratio of 35.33, a PEG ratio of 3.05 and a beta of 1.07.

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). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 EPS. On average, sell-side analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

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 $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.18%. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Scotiabank raised their price target on 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 boosted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $131.47.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was 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 in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

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.