Prologis, Inc. (NYSE:PLD) Shares Sold by Fiduciary Family Office LLC

Fiduciary Family Office LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 53.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,970 shares of the real estate investment trust’s stock after selling 2,276 shares during the quarter. Fiduciary Family Office LLC’s holdings in Prologis were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Destination Wealth Management grew its position in Prologis by 4.7% in the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 92 shares in the last quarter. CVA Family Office LLC boosted its holdings in shares of Prologis by 21.4% in the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 94 shares in the last quarter. Tiemann Investment Advisors LLC increased its stake in shares of Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after acquiring an additional 100 shares during the period. M&G Plc raised its holdings in Prologis by 3.4% during the second quarter. M&G Plc now owns 3,010 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 100 shares in the last quarter. Finally, Conning Inc. lifted its position in Prologis by 1.0% in the second quarter. Conning Inc. now owns 10,525 shares of the real estate investment trust’s stock worth $1,182,000 after purchasing an additional 100 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE PLD opened at $128.36 on Wednesday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The business’s 50-day moving average price is $121.69 and its two-hundred day moving average price is $118.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $118.85 billion, a P/E ratio of 37.53, a price-to-earnings-growth ratio of 3.28 and a beta of 1.06.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 EPS. Analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 2.99%. Prologis’s dividend payout ratio is presently 112.28%.

Insiders Place Their Bets

In other Prologis 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 value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PLD shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Evercore ISI raised their price objective on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Barclays boosted their target price on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group upped their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Seven research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

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.