Prologis, Inc. (NYSE:PLD) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 62.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,711 shares of the real estate investment trust's stock after selling 266,987 shares during the period. Guggenheim Capital LLC's holdings in Prologis were worth $17,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PLD. Murphy & Mullick Capital Management Corp purchased a new position in Prologis during the 4th quarter valued at $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis during the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new position in shares of Prologis in the fourth quarter worth about $30,000. Whipplewood Advisors LLC purchased a new position in Prologis in the 4th quarter worth about $34,000. Finally, Promus Capital LLC bought a new stake in Prologis during the 4th quarter valued at about $34,000. Institutional investors own 93.50% of the company's stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. CJS Securities decreased their price target on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a report on Friday, January 17th. Evercore ISI cut their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Prologis has an average rating of "Moderate Buy" and an average price target of $123.32.

Prologis Stock Performance

Shares of Prologis stock traded down $4.03 during midday trading on Monday, hitting $98.08. The company had a trading volume of 687,950 shares, compared to its average volume of 4,121,740. The company has a fifty day simple moving average of $111.44 and a 200 day simple moving average of $113.13. The stock has a market cap of $90.91 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.70 and a beta of 1.20. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is presently 101.00%.

Prologis 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.