Profund Advisors LLC Sells 253 Shares of Prologis, Inc. (NYSE:PLD)

Profund Advisors LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,958 shares of the real estate investment trust’s stock after selling 253 shares during the period. Profund Advisors LLC’s holdings in Prologis were worth $1,712,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC increased its position in Prologis by 0.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 16,292 shares of the real estate investment trust’s stock worth $2,033,000 after buying an additional 81 shares during the period. CVA Family Office LLC increased its position in shares of Prologis by 3.3% during the second quarter. CVA Family Office LLC now owns 2,531 shares of the real estate investment trust’s stock valued at $310,000 after purchasing an additional 82 shares during the period. Carlson Capital Management increased its position in shares of Prologis by 4.5% during the second quarter. Carlson Capital Management now owns 1,885 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 82 shares during the period. Destination Wealth Management increased its position in shares of Prologis by 4.4% during the first quarter. Destination Wealth Management now owns 1,949 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 83 shares during the period. Finally, NorthRock Partners LLC increased its position in shares of Prologis by 2.2% during the first quarter. NorthRock Partners LLC now owns 3,969 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 84 shares during the period. 90.90% of the stock is owned by institutional investors.

Prologis Stock Up 0.8 %

NYSE:PLD opened at $111.00 on Tuesday. The firm has a market capitalization of $102.56 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $136.67. The stock’s 50 day moving average price is $109.09 and its two-hundred day moving average price is $118.40. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.47.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.72 billion. Prologis had a return on equity of 5.21% and a net margin of 38.24%. The business’s quarterly revenue was up 53.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.73 EPS. Equities research analysts expect that Prologis, Inc. will post 5.6 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $3.48 annualized dividend and a dividend yield of 3.14%. Prologis’s dividend payout ratio is currently 107.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PLD shares. Evercore ISI lowered their price objective on Prologis from $132.00 to $125.00 in a research report on Monday, October 9th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Raymond James lowered their price objective on Prologis from $145.00 to $130.00 and set a “strong-buy” rating on the stock in a research report on Monday, October 23rd. TheStreet cut Prologis from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. Finally, Truist Financial lowered their price target on Prologis from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Three 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $139.60.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 2023, 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 (114 million square meters) in 19 countries.