Prologis, Inc. (NYSE:PLD) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its position in Prologis, Inc. (NYSE:PLD) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,294,201 shares of the real estate investment trust’s stock after selling 25,445 shares during the period. Ensign Peak Advisors Inc owned approximately 0.14% of Prologis worth $145,352,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PLD. Optimum Investment Advisors acquired a new stake in shares of Prologis during the 1st quarter valued at $26,000. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter valued at $26,000. True Wealth Design LLC acquired a new stake in Prologis during the 4th quarter valued at $27,000. Central Valley Advisors LLC acquired a new stake in Prologis during the 2nd quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis during the 2nd quarter valued at $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Prologis Stock Down 2.4 %

PLD stock opened at $125.47 on Friday. 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 52-week low of $96.64 and a 52-week high of $137.52. The company has a 50-day moving average of $125.48 and a two-hundred day moving average of $118.74. The stock has a market capitalization of $116.17 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

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

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

PLD has been the topic of several recent analyst reports. Scotiabank boosted their target price on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Evercore ISI boosted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Mizuho dropped their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Finally, Bank of America reaffirmed a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.35.

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.