Hutchens & Kramer Investment Management Group LLC Sells 545 Shares of Prologis, Inc. (NYSE:PLD)

Hutchens & Kramer Investment Management Group LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 16.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,846 shares of the real estate investment trust’s stock after selling 545 shares during the quarter. Hutchens & Kramer Investment Management Group LLC’s holdings in Prologis were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Optimum Investment Advisors bought a new stake in shares of Prologis during the first quarter valued at approximately $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the 2nd quarter valued at $27,000. American Capital Advisory LLC bought a new position in shares of Prologis during the 2nd quarter worth about $26,000. Central Valley Advisors LLC bought a new stake in Prologis in the second quarter valued at about $29,000. Finally, Sunbelt Securities Inc. increased its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 0.8 %

Shares of NYSE PLD traded up $0.93 during mid-day trading on Tuesday, hitting $121.39. The company’s stock had a trading volume of 5,379,595 shares, compared to its average volume of 3,623,977. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company’s fifty day simple moving average is $125.26 and its 200-day simple moving average is $117.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $112.39 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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). The business had revenue of $2.01 billion during 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.83 earnings per share. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.16%. Prologis’s payout ratio is currently 112.28%.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of analyst reports. Scotiabank raised their price target 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. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Truist Financial boosted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.71.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

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.