MAI Capital Management Sells 3,574 Shares of Prologis, Inc. (NYSE:PLD)

MAI Capital Management trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,587 shares of the real estate investment trust’s stock after selling 3,574 shares during the period. MAI Capital Management’s holdings in Prologis were worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter valued at $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis in the second quarter valued at $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis in the second quarter valued at $29,000. Sunbelt Securities Inc. lifted its stake 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 valued at $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Prologis in the second quarter valued at about $31,000. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

PLD opened at $115.13 on Wednesday. The company has a market capitalization of $106.63 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.98 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $120.69 and a 200-day moving average price of $118.30. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results 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 business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue for the quarter 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 analysts expect that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.34%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s 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 completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Evercore ISI increased 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. Morgan Stanley increased their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Barclays increased their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.18.

Prologis Company 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.