Fidelis Capital Partners LLC Trims Stock Position in Prologis, Inc. (NYSE:PLD)

Fidelis Capital Partners LLC decreased its position in Prologis, Inc. (NYSE:PLD) by 14.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,853 shares of the real estate investment trust’s stock after selling 1,551 shares during the period. Fidelis Capital Partners LLC’s holdings in Prologis were worth $1,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its position in shares of Prologis by 380.0% during the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock worth $43,046,000 after purchasing an additional 263,649 shares during the period. Swedbank AB raised its position in Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares in the last quarter. Atalanta Sosnoff Capital LLC purchased a new position in shares of Prologis during the fourth quarter worth $18,551,000. Finally, US Bancorp DE boosted its position in shares of Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after buying an additional 41,469 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PLD shares. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Wells Fargo & Company lifted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Mizuho dropped their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.35.

Prologis Stock Down 2.4 %

Shares of NYSE PLD opened at $125.47 on Monday. The business has a 50-day moving average price of $125.48 and a 200 day moving average price of $118.55. The stock 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. 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 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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). 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%. Prologis’s revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 earnings per share. Equities research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

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

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by insiders.

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.