Oppenheimer Asset Management Inc. Has $4.54 Million Stake in Prologis, Inc. (NYSE:PLD)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,941 shares of the real estate investment trust’s stock after selling 3,874 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Prologis were worth $4,539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. American Capital Advisory LLC bought a new position in Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in Prologis in the second quarter valued at approximately $27,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its stake in Prologis by 640.0% during 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 in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis in the second quarter worth $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the 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 transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Morgan Stanley lifted their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Evercore ISI increased their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.12.

Prologis Stock Performance

NYSE:PLD opened at $113.38 on Friday. The business’s fifty day moving average is $121.62 and its 200 day moving average is $117.88. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The firm has a market cap of $105.01 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 3.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last posted its earnings results 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 return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company posted $1.30 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Research analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.39%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is 116.01%.

About Prologis

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.