Sanctuary Advisors LLC Sells 3,677 Shares of Prologis, Inc. $PLD

Sanctuary Advisors LLC cut its stake in Prologis, Inc. (NYSE:PLD) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,066 shares of the real estate investment trust’s stock after selling 3,677 shares during the period. Sanctuary Advisors LLC’s holdings in Prologis were worth $21,818,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PLD. Norges Bank bought a new position in shares of Prologis in the 4th quarter worth approximately $1,589,125,000. Cardano Risk Management B.V. lifted its stake in shares of Prologis by 999.3% in the 4th quarter. Cardano Risk Management B.V. now owns 11,228,730 shares of the real estate investment trust’s stock valued at $1,433,460,000 after purchasing an additional 10,207,267 shares during the period. Swedbank AB lifted its stake in shares of Prologis by 36.2% in the 4th quarter. Swedbank AB now owns 7,664,583 shares of the real estate investment trust’s stock valued at $978,461,000 after purchasing an additional 2,038,329 shares during the period. Bessemer Group Inc. boosted its position in shares of Prologis by 8,000.9% during the fourth quarter. Bessemer Group Inc. now owns 1,595,963 shares of the real estate investment trust’s stock valued at $203,741,000 after purchasing an additional 1,576,262 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Prologis by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 123,323,290 shares of the real estate investment trust’s stock worth $15,743,451,000 after purchasing an additional 1,258,407 shares during the period. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLD has been the subject of several recent research reports. Raymond James Financial began coverage on Prologis in a research report on Thursday, June 18th. They set a “market perform” rating for the company. BNP Paribas Exane upped their target price on shares of Prologis from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. DA Davidson increased their price target on shares of Prologis from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Wells Fargo & Company lifted their price target on shares of Prologis from $155.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Truist Financial lifted their price target on shares of Prologis from $139.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $152.00.

Insider Transactions at Prologis

In other news, CFO Timothy D. Arndt sold 3,597 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Prologis Trading Up 0.7%

Prologis stock opened at $143.46 on Thursday. Prologis, Inc. has a 12 month low of $103.41 and a 12 month high of $150.18. The company has a market capitalization of $133.75 billion, a price-to-earnings ratio of 36.14 and a beta of 1.32. The business’s fifty day simple moving average is $142.87 and its two-hundred day simple moving average is $137.67. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.60.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Thursday, April 16th. The real estate investment trust reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.24. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.12 billion. Prologis had a return on equity of 6.47% and a net margin of 41.54%.The company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. As a group, equities analysts predict that Prologis, Inc. will post 6.17 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, June 16th. Prologis’s dividend payout ratio (DPR) is currently 107.81%.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.