Prologis, Inc. (NYSE:PLD) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,758,817 shares of the real estate investment trust’s stock after selling 152,536 shares during the quarter. Bank of Montreal Can owned approximately 0.30% of Prologis worth $310,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Optimum Investment Advisors purchased a new stake in Prologis in the 1st quarter worth $26,000. American Capital Advisory LLC acquired a new stake in shares of Prologis in the second quarter valued at about $26,000. True Wealth Design LLC purchased a new stake in shares of Prologis during the fourth quarter worth about $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis during the 2nd quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $125.47 on Monday. The firm 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. The business’s fifty day simple moving average is $125.48 and its 200-day simple moving average is $118.55.

Prologis (NYSE:PLD) last announced 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). The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period last year, the business earned $1.83 EPS. Equities analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

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

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value 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 $1,702,046.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company boosted their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Scotiabank lifted their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Evercore ISI raised their price target on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Barclays upped their price objective on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.35.

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.