Adell Harriman & Carpenter Inc. Lowers Position in Prologis, Inc. (NYSE:PLD)

Adell Harriman & Carpenter Inc. trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,621 shares of the real estate investment trust’s stock after selling 1,768 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Prologis were worth $6,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Swedbank AB bought a new stake in Prologis in the 1st quarter worth about $596,614,000. Alphinity Investment Management Pty Ltd purchased a new position in Prologis in the first quarter worth $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis during the 2nd quarter worth $203,223,000. Vanguard Group Inc. grew its position in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares during the period. Finally, AMF Tjanstepension AB increased its holdings in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction 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 completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

Prologis Stock Performance

Prologis stock opened at $115.32 on Wednesday. Prologis, Inc. has a fifty-two week low of $96.96 and a fifty-two week high of $137.52. The firm’s fifty day moving average price is $124.75 and its 200-day moving average price is $117.37. The stock has a market cap of $106.78 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.33%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Analyst Ratings Changes

A number of research firms recently commented on PLD. Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lowered their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company increased their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $131.12.

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.