Gamco Investors INC. ET AL Sells 7,146 Shares of Prologis, Inc. (NYSE:PLD)

Gamco Investors INC. ET AL trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 11.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 53,648 shares of the real estate investment trust's stock after selling 7,146 shares during the period. Gamco Investors INC. ET AL's holdings in Prologis were worth $5,671,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in PLD. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis during the 4th quarter worth about $26,000. Crowley Wealth Management Inc. bought a new stake in Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis during the 4th quarter valued at $30,000. Whipplewood Advisors LLC bought a new position in Prologis in the 4th quarter valued at $34,000. Finally, Promus Capital LLC acquired a new stake in shares of Prologis in the fourth quarter valued at $34,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction on 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

Prologis Stock Performance

Shares of PLD traded up $1.80 during midday trading on Tuesday, reaching $100.43. 892,638 shares of the stock were exchanged, compared to its average volume of 4,787,070. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a market cap of $93.09 billion, a P/E ratio of 25.11, a PEG ratio of 2.70 and a beta of 1.20. The stock's 50 day simple moving average is $111.02 and its 200 day simple moving average is $112.96. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.02%. 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 dividend payout ratio is 101.00%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research analyst reports. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Scotiabank reiterated a "sector underperform" rating and issued a $97.00 price target (down previously from $133.00) on shares of Prologis in a report on Monday, April 7th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday. CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Finally, Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $123.32.

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.