Thrivent Financial for Lutherans Trims Stock Position in Prologis, Inc. (NYSE:PLD)

Thrivent Financial for Lutherans cut its stake in Prologis, Inc. (NYSE:PLD) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 268,258 shares of the real estate investment trust’s stock after selling 6,318 shares during the period. Thrivent Financial for Lutherans’ holdings in Prologis were worth $30,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in Prologis in the fourth quarter valued at $27,000. Optimum Investment Advisors purchased a new stake in Prologis in the first quarter valued at $26,000. American Capital Advisory LLC purchased a new stake in Prologis in the second quarter valued at $26,000. Clear Investment Research LLC lifted its position in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares during the last quarter. Finally, Central Valley Advisors LLC purchased a new stake in Prologis in the second quarter valued at $29,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on PLD shares. Morgan Stanley lifted their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Barclays lifted 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. Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Evercore ISI lifted their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Seven 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.35.

Prologis Stock Up 0.9 %

PLD stock opened at $126.63 on Tuesday. The company has a market cap of $117.24 billion, a P/E ratio of 37.03, a P/E/G 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 company’s 50-day moving average price is $125.59 and its 200 day moving average price is $118.50. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was down 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.83 EPS. On average, research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.03%. 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.