Wright Investors Service Inc. Has $454,000 Stake in Prologis, Inc. (NYSE:PLD)

Wright Investors Service Inc. reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 70.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,596 shares of the real estate investment trust’s stock after selling 8,397 shares during the period. Wright Investors Service Inc.’s holdings in Prologis were worth $454,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Arbor Capital Management Inc. ADV boosted its holdings 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 boosted its stake in shares of Prologis by 5.1% in 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 second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 92 shares during the period. CVA Family Office LLC raised its stake in Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 94 shares during the last quarter. Finally, Tiemann Investment Advisors LLC lifted its holdings in Prologis by 2.4% in the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 100 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of several research analyst reports. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. The Goldman Sachs Group raised their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. 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. Finally, BMO Capital Markets reissued a “market perform” rating and set a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Seven 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, Prologis has an average rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Stock Up 0.3 %

Shares of PLD stock traded up $0.38 during trading hours on Friday, reaching $122.42. The company had a trading volume of 2,773,995 shares, compared to its average volume of 3,637,378. The company has a market cap of $113.34 billion, a price-to-earnings ratio of 35.80, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. 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 12 month low of $96.64 and a 12 month high of $137.52. The business has a fifty day simple moving average of $125.85 and a 200-day simple moving average of $118.16.

Prologis (NYSE:PLD) last issued 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 company had revenue of $2.01 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $1.83 earnings per share. On average, research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.14%. Prologis’s dividend payout ratio is currently 112.28%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred 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 transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis 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.