Prologis, Inc. (NYSE:PLD) Shares Sold by Axa S.A.

Axa S.A. decreased its holdings in Prologis, Inc. (NYSE:PLD) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,773,203 shares of the real estate investment trust’s stock after selling 51,571 shares during the period. Axa S.A. owned about 0.19% of Prologis worth $199,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of PLD. Optimum Investment Advisors purchased a new position in Prologis in the first quarter worth approximately $26,000. American Capital Advisory LLC purchased a new position in shares of Prologis in the 2nd quarter valued at about $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis during the 4th quarter worth about $27,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the second quarter worth approximately $27,000. Finally, Central Valley Advisors LLC acquired a new position in Prologis in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $126.68 on Wednesday. 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 fifty-two week low of $96.64 and a fifty-two week high of $137.52. The business has a fifty day moving average of $125.70 and a 200-day moving average of $118.45. The stock has a market cap of $117.29 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results 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 firm 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 business’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 earnings per share. As a group, analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

Analyst Ratings Changes

A number of research firms have weighed in on PLD. Truist Financial raised their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Mizuho cut their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. 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. The Goldman Sachs Group lifted their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Seven 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $133.35.

Insider Transactions at Prologis

In related 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 transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

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.