Summit Trail Advisors LLC Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Summit Trail Advisors LLC cut its position in Prologis, Inc. (NYSE:PLD) by 17.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,442 shares of the real estate investment trust’s stock after selling 2,134 shares during the period. Summit Trail Advisors LLC’s holdings in Prologis were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Chesapeake Wealth Management raised its position in shares of Prologis by 6.8% during the 2nd quarter. Chesapeake Wealth Management now owns 9,226 shares of the real estate investment trust’s stock valued at $1,036,000 after buying an additional 585 shares in the last quarter. Sei Investments Co. increased its holdings in Prologis by 9.6% during the 2nd quarter. Sei Investments Co. now owns 2,635,142 shares of the real estate investment trust’s stock worth $295,953,000 after purchasing an additional 231,427 shares during the period. Pacer Advisors Inc. lifted its stake in Prologis by 8.7% in the second quarter. Pacer Advisors Inc. now owns 333,299 shares of the real estate investment trust’s stock worth $37,433,000 after acquiring an additional 26,659 shares during the period. AE Wealth Management LLC increased its holdings in Prologis by 16.6% during the second quarter. AE Wealth Management LLC now owns 192,874 shares of the real estate investment trust’s stock valued at $21,662,000 after buying an additional 27,421 shares during the period. Finally, King Luther Capital Management Corp raised its position in shares of Prologis by 48.9% in the 2nd quarter. King Luther Capital Management Corp now owns 22,202 shares of the real estate investment trust’s stock worth $2,494,000 after acquiring an additional 7,287 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction 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 sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Prologis Stock Down 2.4 %

Shares of NYSE PLD opened at $125.47 on Friday. The firm has a market cap of $116.17 billion, a P/E ratio of 36.69, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The firm’s 50 day moving average price is $125.48 and its 200 day moving average price is $118.65.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company 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 firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLD. Barclays increased their price objective on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company raised their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Truist Financial raised their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group raised their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.35.

Prologis 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.