Prologis, Inc. (NYSE:PLD) Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,747 shares of the real estate investment trust’s stock after purchasing an additional 262 shares during the period. Carnegie Investment Counsel’s holdings in Prologis were worth $2,367,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Optimum Investment Advisors bought a new position in Prologis during the 1st quarter valued at $26,000. American Capital Advisory LLC bought a new stake in Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. acquired a new position in Prologis during the 2nd quarter valued at about $27,000. Central Valley Advisors LLC acquired a new position in Prologis during the 2nd quarter valued at about $29,000. Finally, Sunbelt Securities Inc. increased its stake in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s 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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Up 1.7 %

Shares of NYSE:PLD opened at $120.24 on Monday. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The company’s fifty day moving average is $125.23 and its 200-day moving average is $117.79. The company has a market capitalization of $111.32 billion, a PE ratio of 35.16, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion for 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%. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter last year, the company earned $1.83 EPS. Equities research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis’s payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Morgan Stanley lifted 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. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Wells Fargo & Company lifted their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, Argus boosted their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.71.

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.