Legacy Financial Advisors Inc. Sells 369 Shares of Prologis, Inc. (NYSE:PLD)

Legacy Financial Advisors Inc. cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,869 shares of the real estate investment trust’s stock after selling 369 shares during the period. Legacy Financial Advisors Inc.’s holdings in Prologis were worth $435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC increased its position in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after acquiring an additional 317,815 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after acquiring an additional 365,904 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after purchasing an additional 167,131 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Truist Financial boosted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank raised their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Barclays lifted their price objective on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets restated a “market perform” rating and set a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.35.

Prologis Trading Down 2.4 %

Shares of NYSE PLD 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 twelve month low of $96.64 and a twelve month high of $137.52. The company’s fifty day moving average is $125.48 and its 200-day moving average is $118.65. The stock has a market cap of $116.17 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last posted 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 return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. The business’s revenue was down 18.1% on a year-over-year basis. Equities research analysts predict 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. Shareholders of record on Monday, September 16th will be issued a dividend of $0.96 per share. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.06%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

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.