Prologis, Inc. (NYSE:PLD) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,758,817 shares of the real estate investment trust’s stock after selling 152,536 shares during the period. Bank of Montreal Can’s holdings in Prologis were worth $310,036,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PLD. Valeo Financial Advisors LLC grew its position in shares of Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after buying an additional 48,850,448 shares in the last quarter. Capital World Investors lifted its stake in Prologis by 1,252.9% in the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after acquiring an additional 6,765,582 shares during the last quarter. Swedbank AB acquired a new position in Prologis during the 1st quarter worth approximately $596,614,000. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Prologis in the 1st quarter valued at approximately $465,659,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Prologis in the 2nd quarter valued at approximately $203,223,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Mizuho decreased their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, Scotiabank upped their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Seven investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.35.

Insider Activity at Prologis

In other Prologis 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 transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

Prologis Trading Down 2.4 %

Shares of Prologis stock opened at $125.47 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $116.17 billion, a P/E ratio of 36.69, a PEG ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company’s fifty day moving average is $125.48 and its two-hundred day moving average is $118.55.

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

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

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.