Laffer Tengler Investments Inc. Has $4.24 Million Holdings in Prologis, Inc. (NYSE:PLD)

Laffer Tengler Investments Inc. cut its holdings in Prologis, Inc. (NYSE:PLD) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,601 shares of the real estate investment trust’s stock after selling 590 shares during the period. Laffer Tengler Investments Inc.’s holdings in Prologis were worth $4,243,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PLD. Swedbank AB raised its position in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Prologis by 36.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after purchasing an additional 43,235 shares during the last quarter. US Bancorp DE increased its stake in shares of Prologis by 6.5% in the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock worth $88,148,000 after purchasing an additional 41,469 shares during the period. Sunflower Bank N.A. acquired a new position in shares of Prologis during the 3rd quarter worth about $249,000. Finally, Centersquare Investment Management LLC grew its holdings in Prologis by 5.7% in the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after buying an additional 367,565 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

PLD traded up $0.46 during midday trading on Monday, hitting $116.29. The company had a trading volume of 635,096 shares, compared to its average volume of 3,634,474. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The company has a market capitalization of $107.70 billion, a PE ratio of 34.99, a P/E/G ratio of 2.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm’s 50-day simple moving average is $122.69 and its 200-day simple moving average is $117.77.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $1.30 earnings per share. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts predict that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLD. Wells Fargo & Company increased their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Truist Financial raised their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI boosted their price target 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. Argus raised their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

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.