Prologis, Inc. (NYSE:PLD) Short Interest Update

by · The Markets Daily

Prologis, Inc. (NYSE:PLD – Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 9,740,000 shares, a decrease of 17.2% from the September 30th total of 11,760,000 shares. Based on an average daily trading volume, of 3,400,000 shares, the short-interest ratio is currently 2.9 days.

Prologis Trading Up 0.2 %

Shares of PLD stock traded up $0.27 during trading hours on Monday, hitting $117.81. 3,648,521 shares of the company were exchanged, compared to its average volume of 3,646,521. The firm has a market cap of $109.07 billion, a P/E ratio of 34.64, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis has a fifty-two week low of $96.96 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The company has a 50 day simple moving average of $125.06 and a two-hundred day simple moving average of $117.41.

Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS. Equities analysts anticipate that Prologis will post 5.42 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is currently 112.28%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Prologis

Several hedge funds have recently bought and sold shares of the business. Semmax Financial Advisors Inc. purchased a new position in Prologis during the 2nd quarter worth $27,000. American Capital Advisory LLC purchased a new position in Prologis during the 2nd quarter worth $26,000. Central Valley Advisors LLC purchased a new position in Prologis during the 2nd quarter worth $29,000. Sunbelt Securities Inc. boosted its holdings in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of a number of research reports. Barclays dropped their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Finally, Evercore ISI increased their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $131.12.

Read Our Latest Analysis on PLD

Prologis Company Profile

(Get Free Report)

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.

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