Prologis, Inc. (NYSE:PLD) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its position in Prologis, Inc. (NYSE:PLD) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,715 shares of the real estate investment trust’s stock after selling 16,395 shares during the period. AQR Capital Management LLC’s holdings in Prologis were worth $23,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optimum Investment Advisors acquired a new position in shares of Prologis during the 1st quarter worth $26,000. American Capital Advisory LLC acquired a new position in Prologis during the second quarter worth about $26,000. True Wealth Design LLC purchased a new stake in shares of Prologis in the fourth quarter valued at about $27,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis in the second quarter valued at about $27,000. Finally, Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $29,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of Prologis stock opened at $126.28 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The firm’s 50-day simple moving average is $125.82 and its 200-day simple moving average is $118.23. The firm has a market cap of $116.92 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.04%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated 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 sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of a number of recent research reports. Truist Financial upped their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Morgan Stanley upped their price objective 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 lifted their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Scotiabank lifted their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.35.

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.