Prologis, Inc. (NYSE:PLD) Shares Sold by Schneider Downs Wealth Management Advisors LP

Schneider Downs Wealth Management Advisors LP lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,171 shares of the real estate investment trust’s stock after selling 168 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in Prologis were worth $272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Bridgewater Associates LP purchased a new stake in shares of Prologis during the second quarter worth approximately $1,358,000. abrdn plc grew its holdings in shares of Prologis by 20.0% during the second quarter. abrdn plc now owns 1,713,019 shares of the real estate investment trust’s stock worth $204,757,000 after buying an additional 285,900 shares in the last quarter. Bank of Montreal Can raised its position in shares of Prologis by 89.9% in the second quarter. Bank of Montreal Can now owns 2,910,616 shares of the real estate investment trust’s stock valued at $354,018,000 after buying an additional 1,377,517 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Prologis by 37.7% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,970 shares of the real estate investment trust’s stock worth $1,789,000 after buying an additional 4,100 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in Prologis by 11.8% during the second quarter. Neuberger Berman Group LLC now owns 2,417,602 shares of the real estate investment trust’s stock worth $287,894,000 after acquiring an additional 255,152 shares during the last quarter. Institutional investors and hedge funds own 92.23% of the company’s stock.

Shares of PLD opened at $154.51 on Thursday. The firm has a market cap of $114.23 billion, a P/E ratio of 58.31, a price-to-earnings-growth ratio of 4.58 and a beta of 0.78. Prologis, Inc. has a 12-month low of $93.08 and a 12-month high of $154.87. The company’s 50-day moving average price is $139.36 and its 200 day moving average price is $130.57. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Prologis had a net margin of 42.95% and a return on equity of 5.42%. Prologis’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. Equities research analysts forecast that Prologis, Inc. will post 4.12 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Friday, September 17th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, September 16th. This represents a $2.52 annualized dividend and a yield of 1.63%. Prologis’s dividend payout ratio (DPR) is presently 95.09%.

A number of research firms have commented on PLD. BTIG Research increased their price objective on shares of Prologis from $146.00 to $161.00 and gave the company a “buy” rating in a report on Wednesday, October 20th. The Goldman Sachs Group raised Prologis from a “buy” rating to a “conviction-buy” rating and increased their price target for the company from $166.00 to $180.00 in a report on Thursday, October 21st. Raymond James boosted their price objective on Prologis from $143.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 20th. Morgan Stanley upped their target price on Prologis from $138.00 to $165.00 and gave the company an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company lifted their price target on Prologis from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 19th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $149.73.

In other news, CEO Hamid R. Moghadam sold 305,645 shares of the stock in a transaction on Friday, October 22nd. The stock was sold at an average price of $144.24, for a total value of $44,086,234.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William D. Zollars sold 1,380 shares of Prologis stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $146.20, for a total value of $201,756.00. The disclosure for this sale can be found here. Insiders sold a total of 345,380 shares of company stock valued at $49,569,018 in the last quarter. 0.87% of the stock is owned by insiders.

About Prologis

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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