Richardson Financial Services Inc. Sells 309 Shares of Prologis, Inc. (NYSE:PLD)

Richardson Financial Services Inc. trimmed its position in Prologis, Inc. (NYSE:PLD) by 17.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,471 shares of the real estate investment trust’s stock after selling 309 shares during the period. Richardson Financial Services Inc.’s holdings in Prologis were worth $165,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arbor Capital Management Inc. ADV increased its stake in Prologis by 0.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after acquiring an additional 87 shares during the last quarter. Mitchell Sinkler & Starr PA increased its position in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 90 shares during the last quarter. Destination Wealth Management increased its position in shares of Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of Prologis by 21.4% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 94 shares in the last quarter. Finally, Tiemann Investment Advisors LLC lifted its position in Prologis by 2.4% in the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Morgan Stanley boosted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday. Finally, Bank of America restated a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

Insider Activity

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

Prologis Stock Up 1.2 %

PLD stock opened at $128.51 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The stock has a market capitalization of $118.98 billion, a P/E ratio of 37.58, a P/E/G ratio of 3.36 and a beta of 1.07. The business has a fifty day moving average price of $125.38 and a 200-day moving average price of $118.80.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business earned $1.83 EPS. The business’s revenue was down 18.1% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend yield of 2.99%. Prologis’s payout ratio is 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.