Prologis, Inc. (NYSE:PLD) Shares Sold by Meitav Investment House Ltd.

Meitav Investment House Ltd. lowered its position in Prologis, Inc. (NYSE:PLD) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 596,659 shares of the real estate investment trust’s stock after selling 20,259 shares during the quarter. Prologis accounts for approximately 1.3% of Meitav Investment House Ltd.’s holdings, making the stock its 24th biggest holding. Meitav Investment House Ltd.’s holdings in Prologis were worth $75,346,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter valued at approximately $26,000. Semmax Financial Advisors Inc. acquired a new position in Prologis in the 2nd quarter worth approximately $27,000. Central Valley Advisors LLC purchased a new stake in Prologis in the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its position in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 0.6 %

PLD opened at $115.17 on Thursday. The company has a market cap of $106.64 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The firm has a 50 day simple moving average of $124.58 and a 200 day simple moving average of $117.36. 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 fifty-two week low of $98.82 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. On average, sell-side analysts anticipate 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. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLD. Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Scotiabank decreased their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Barclays decreased their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Evercore ISI lifted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given 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 $131.12.

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.