Constitution Capital LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,100 shares of the real estate investment trust’s stock after selling 334 shares during the quarter. Prologis comprises approximately 1.1% of Constitution Capital LLC’s investment portfolio, making the stock its 17th biggest holding. Constitution Capital LLC’s holdings in Prologis were worth $1,974,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC acquired a new position in Prologis during the first quarter valued at $25,000. Sageworth Trust Co acquired a new position in Prologis during the first quarter valued at $26,000. Headlands Technologies LLC acquired a new position in Prologis during the first quarter valued at $30,000. Edmond DE Rothschild Holding S.A. acquired a new position in Prologis during the first quarter valued at $31,000. Finally, Centerpoint Advisors LLC acquired a new position in Prologis during the first quarter valued at $34,000. 90.90% of the stock is owned by hedge funds and other institutional investors.
Prologis Trading Down 0.9 %
Shares of PLD stock traded down $1.06 during trading hours on Tuesday, hitting $121.67. The company had a trading volume of 406,772 shares, compared to its average volume of 2,863,441. The company’s fifty day moving average is $123.69 and its 200 day moving average is $122.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. Prologis, Inc. has a fifty-two week low of $98.03 and a fifty-two week high of $136.67. The stock has a market capitalization of $112.41 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 2.46 and a beta of 0.98.
Prologis (NYSE:PLD – Get Free Report) last released its earnings results on Tuesday, July 18th. The real estate investment trust reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.15. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $1.72 billion. Prologis had a net margin of 42.52% and a return on equity of 6.17%. The firm’s quarterly revenue was up 95.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 EPS. Research analysts expect that Prologis, Inc. will post 5.59 earnings per share for the current fiscal year.
Prologis Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.86%. Prologis’s dividend payout ratio (DPR) is presently 91.58%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on PLD shares. BTIG Research boosted their target price on shares of Prologis from $152.00 to $154.00 in a research report on Wednesday, July 19th. Truist Financial decreased their target price on shares of Prologis from $140.00 to $135.00 in a research report on Tuesday, June 27th. 888 reiterated a “maintains” rating on shares of Prologis in a research report on Wednesday, June 28th. Barclays decreased their price objective on shares of Prologis from $160.00 to $159.00 in a research report on Wednesday, June 28th. Finally, Mizuho reiterated a “buy” rating and issued a $140.00 price objective on shares of Prologis in a research report on Wednesday, September 13th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.65.
Check Out Our Latest Analysis on PLD
Insiders Place Their Bets
In other Prologis news, Director George L. Fotiades sold 10,711 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $123.98, for a total transaction of $1,327,949.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.
Prologis Profile
(Free Report)
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2023, 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 (114 million square meters) in 19 countries.
Featured Articles
Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD – Free Report).
Receive News & Ratings for Prologis Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Prologis and related companies with MarketBeat.com’s FREE daily email newsletter.
