Sapient Capital LLC Sells 276 Shares of Prologis, Inc. (NYSE:PLD)

Sapient Capital LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,024 shares of the real estate investment trust’s stock after selling 276 shares during the period. Sapient Capital LLC’s holdings in Prologis were worth $634,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Optimum Investment Advisors bought a new position in shares of Prologis during the first quarter valued at approximately $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the second quarter worth $27,000. American Capital Advisory LLC acquired a new stake in shares of Prologis in the second quarter worth $26,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter worth $29,000. Finally, Sunbelt Securities Inc. increased its stake in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Truist Financial lifted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group lifted their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.71.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were 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 owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.50% of the stock is owned by corporate insiders.

Prologis Stock Up 0.3 %

Shares of NYSE:PLD opened at $120.56 on Tuesday. The firm has a 50 day simple moving average of $125.26 and a 200-day simple moving average of $117.72. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a market capitalization of $111.62 billion, a PE ratio of 35.25, a P/E/G ratio of 3.05 and a beta of 1.07. 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 announced 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company posted $1.83 EPS. The firm’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, equities analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.19%. Prologis’s payout ratio is 112.28%.

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.