Sei Investments Co. Purchases 231,427 Shares of Prologis, Inc. (NYSE:PLD)

Sei Investments Co. raised its position in shares of Prologis, Inc. (NYSE:PLD) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,635,142 shares of the real estate investment trust’s stock after acquiring an additional 231,427 shares during the quarter. Sei Investments Co. owned about 0.28% of Prologis worth $295,953,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Arbor Capital Management Inc. ADV raised its holdings in shares of Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after purchasing an additional 87 shares during the period. Mitchell Sinkler & Starr PA raised its holdings in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 90 shares during the period. Destination Wealth Management raised its holdings in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares during the period. CVA Family Office LLC raised its holdings in shares of Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 94 shares during the period. Finally, Tiemann Investment Advisors LLC raised its holdings in shares of Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after purchasing an additional 100 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PLD shares. Scotiabank upped their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Argus upped their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. The Goldman Sachs Group upped their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Barclays upped their target price on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Seven equities research 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 stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $133.35.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on 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 directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Prologis Trading Down 2.4 %

NYSE:PLD opened at $125.47 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap 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, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The firm has a 50-day moving average price of $125.48 and a two-hundred day moving average price of $118.74.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business posted $1.83 EPS. The company’s quarterly revenue was down 18.1% on a year-over-year basis. On average, equities analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

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.