Oppenheimer Asset Management Inc. Has $4.54 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Oppenheimer Asset Management Inc. lowered its stake in Prologis, Inc. (NYSE:PLD) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,941 shares of the real estate investment trust’s stock after selling 3,874 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Prologis were worth $4,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Semmax Financial Advisors Inc. acquired a new stake in Prologis in the 2nd quarter valued at approximately $27,000. American Capital Advisory LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $26,000. Central Valley Advisors LLC bought a new stake in shares of Prologis in the second quarter worth $29,000. Sunbelt Securities Inc. lifted 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 purchasing an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in Prologis during the second quarter worth $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $113.38 on Friday. The company has a market capitalization of $105.01 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 3.06 and a beta of 1.08. The stock’s 50 day moving average is $121.62 and its 200-day moving average is $117.88. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last posted 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 for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. Equities research analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is currently 116.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Argus lifted their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis 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.