Pacer Advisors Inc. Sells 9,565 Shares of Prologis, Inc. (NYSE:PLD)

Pacer Advisors Inc. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.9% in the third quarter, HoldingsChannel reports. The firm owned 323,734 shares of the real estate investment trust’s stock after selling 9,565 shares during the period. Pacer Advisors Inc.’s holdings in Prologis were worth $40,881,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CreativeOne Wealth LLC increased its holdings in shares of Prologis by 86.7% in the first quarter. CreativeOne Wealth LLC now owns 5,432 shares of the real estate investment trust’s stock valued at $707,000 after purchasing an additional 2,522 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Prologis by 13.2% in the 1st quarter. EP Wealth Advisors LLC now owns 12,344 shares of the real estate investment trust’s stock valued at $1,607,000 after buying an additional 1,442 shares during the last quarter. Truvestments Capital LLC lifted its position in Prologis by 60.8% during the first quarter. Truvestments Capital LLC now owns 1,770 shares of the real estate investment trust’s stock worth $230,000 after acquiring an additional 669 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Prologis by 5.6% during the first quarter. 1832 Asset Management L.P. now owns 781,018 shares of the real estate investment trust’s stock worth $101,704,000 after acquiring an additional 41,668 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of Prologis by 5.9% in the first quarter. Lazard Asset Management LLC now owns 6,126,318 shares of the real estate investment trust’s stock valued at $797,767,000 after purchasing an additional 340,948 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.5 %

NYSE:PLD opened at $113.97 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $120.04 and its 200 day moving average is $118.24. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The stock has a market capitalization of $105.56 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08.

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 the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.30 EPS. Sell-side analysts expect that Prologis, Inc. will post 5.45 earnings per share 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 issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analyst Ratings Changes

Several analysts recently issued reports on PLD shares. Scotiabank reduced their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, October 25th. Truist Financial raised their price target 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. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.25.

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.