Adelante Capital Management LLC Reduces Stock Holdings in Prologis, Inc. (NYSE:PLD)

Adelante Capital Management LLC lessened its stake in Prologis, Inc. (NYSE:PLD) by 94.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,165 shares of the real estate investment trust’s stock after selling 1,421,020 shares during the quarter. Prologis comprises about 0.5% of Adelante Capital Management LLC’s holdings, making the stock its 25th largest holding. Adelante Capital Management LLC’s holdings in Prologis were worth $11,260,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in Prologis by 107.9% in the 1st quarter. Cetera Investment Advisers now owns 159,311 shares of the real estate investment trust’s stock worth $20,745,000 after buying an additional 82,682 shares in the last quarter. Cetera Advisors LLC boosted its holdings in Prologis by 118.7% in the first quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after purchasing an additional 20,623 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in Prologis by 60.1% during the 2nd quarter. Transcend Capital Advisors LLC now owns 7,262 shares of the real estate investment trust’s stock valued at $816,000 after purchasing an additional 2,726 shares in the last quarter. GAMMA Investing LLC increased its holdings in Prologis by 46.9% during the 2nd quarter. GAMMA Investing LLC now owns 8,949 shares of the real estate investment trust’s stock worth $1,005,000 after purchasing an additional 2,859 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Prologis by 24.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 32,448 shares of the real estate investment trust’s stock valued at $3,644,000 after buying an additional 6,367 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLD. Morgan Stanley raised their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Bank of America reaffirmed a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, Scotiabank decreased their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $131.25.

Prologis Stock Down 0.9 %

Shares of Prologis stock opened at $116.78 on Friday. Prologis, Inc. has a 1-year low of $101.11 and a 1-year high of $137.52. The company has a market capitalization of $108.16 billion, a P/E ratio of 35.28, a PEG ratio of 3.44 and a beta of 1.08. The business’s fifty day moving average price is $118.70 and its two-hundred day moving average price is $118.74. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

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 company had revenue of $1.90 billion during 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 business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. As a group, research analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid 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 3.29%. Prologis’s dividend payout ratio is presently 116.01%.

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.