ASB Consultores LLC Has $262,000 Stock Position in Prologis, Inc. (NYSE:PLD)

ASB Consultores LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,337 shares of the real estate investment trust’s stock after selling 743 shares during the quarter. ASB Consultores LLC’s holdings in Prologis were worth $262,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Optimum Investment Advisors purchased a new stake in shares of Prologis in the first quarter valued at $26,000. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter worth about $26,000. True Wealth Design LLC purchased a new position in Prologis during the 4th quarter valued at about $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the 2nd quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Prologis in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 2.4 %

Shares of PLD stock opened at $125.47 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a 50 day moving average of $125.48 and a 200-day moving average of $118.74. The firm has a market cap of $116.17 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue was down 18.1% on a year-over-year basis. During the same period last year, the company earned $1.83 EPS. On average, equities analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.06%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PLD shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Truist Financial boosted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group increased their price objective on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Mizuho lowered their target price on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Finally, Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated 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 in the company, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

About Prologis

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.