Prologis, Inc. (NYSE:PLD) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management decreased its holdings in Prologis, Inc. (NYSE:PLD) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,121 shares of the real estate investment trust’s stock after selling 105 shares during the quarter. Chesapeake Wealth Management’s holdings in Prologis were worth $1,152,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the 2nd quarter worth $27,000. American Capital Advisory LLC purchased a new stake in Prologis during the second quarter valued at about $26,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. increased its position 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 in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Prologis during the second quarter valued at approximately $31,000. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PLD shares. Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Wells Fargo & Company lifted their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.18.

Prologis Stock Performance

PLD opened at $114.65 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $106.19 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The stock has a 50-day moving average of $121.03 and a 200-day moving average of $118.23. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) 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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Prologis, Inc. will post 5.45 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. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.35%. Prologis’s dividend payout ratio (DPR) is presently 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.