SpiderRock Advisors LLC Trims Stock Holdings in Prologis, Inc. (NYSE:PLD)

SpiderRock Advisors LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,715 shares of the real estate investment trust’s stock after selling 285 shares during the quarter. SpiderRock Advisors LLC’s holdings in Prologis were worth $1,101,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. American Capital Advisory LLC purchased a new position in shares of Prologis during the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the second quarter valued at $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. lifted 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 worth $29,000 after acquiring an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis during the 2nd quarter valued at about $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent research reports. Barclays cut their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company boosted their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Morgan Stanley increased their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Stock Up 1.4 %

PLD stock opened at $115.83 on Monday. The company’s 50 day moving average is $122.69 and its two-hundred day moving average is $117.67. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $107.28 billion, a P/E ratio of 34.99, a PEG ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. Prologis’s revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid 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 3.32%. Prologis’s dividend payout ratio is presently 116.01%.

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.