Prologis, Inc. (NYSE:PLD) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in Prologis, Inc. (NYSE:PLD) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,718,443 shares of the real estate investment trust’s stock after selling 53,966 shares during the quarter. Franklin Resources Inc. owned approximately 0.29% of Prologis worth $327,425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. American Capital Advisory LLC acquired a new position in Prologis in the second quarter valued at approximately $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the second quarter valued at $27,000. Sunbelt Securities Inc. lifted its stake in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis during the 2nd quarter worth $31,000. Finally, Dunhill Financial LLC raised its holdings in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Down 0.5 %

PLD stock opened at $111.10 on Friday. The company’s 50 day moving average is $116.44 and its two-hundred day moving average is $119.00. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. 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 stock has a market cap of $102.90 billion, a P/E ratio of 33.56, a PEG ratio of 3.27 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 EPS. Research analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.46%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PLD shares. Scotiabank lowered their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. Evercore ISI lifted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company upped their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Raymond James restated an “outperform” rating and set a $125.00 target price (down from $130.00) on shares of Prologis in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $128.88.

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.