1858 Wealth Management LLC Sells 145 Shares of Prologis, Inc. (NYSE:PLD)

1858 Wealth Management LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,889 shares of the real estate investment trust’s stock after selling 145 shares during the period. 1858 Wealth Management LLC’s holdings in Prologis were worth $239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PLD. Valeo Financial Advisors LLC grew its stake in shares of Prologis by 182,067.2% during 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 during the last quarter. Swedbank AB acquired a new position in shares of Prologis during the first quarter worth $596,614,000. Alphinity Investment Management Pty Ltd acquired a new stake in Prologis in the first quarter valued at $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Prologis during the 2nd quarter worth $203,223,000. Finally, Vanguard Group Inc. increased its position in shares of Prologis by 1.2% during 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 buying an additional 1,460,229 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of several recent research reports. Bank of America restated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Morgan Stanley boosted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

Prologis Price Performance

NYSE PLD traded down $4.54 on Monday, reaching $117.96. 1,261,831 shares of the company’s stock traded hands, compared to its average volume of 3,631,211. The stock has a market cap of $109.21 billion, a PE ratio of 34.81, 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 stock has a 50-day simple moving average of $125.43 and a 200 day simple moving average of $117.60. 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 (NYSE:PLD) last posted its quarterly earnings results 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). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company earned $1.30 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current 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 of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.26%. Prologis’s dividend payout ratio is currently 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.