IFC Advisors LLC Purchases 12,830 Shares of Prologis, Inc. $PLD

IFC Advisors LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 620.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,899 shares of the real estate investment trust’s stock after purchasing an additional 12,830 shares during the period. IFC Advisors LLC’s holdings in Prologis were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management boosted its holdings in shares of Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. bought a new position in shares of Prologis in the first quarter worth $34,000. GKV Capital Management Co. Inc. bought a new position in shares of Prologis in the first quarter worth $34,000. Saudi Central Bank bought a new position in shares of Prologis in the first quarter worth $41,000. Finally, Olde Wealth Management LLC bought a new position in shares of Prologis in the first quarter worth $43,000. 93.50% of the stock is owned by institutional investors.

Insider Transactions at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director directly owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $2,952,095 over the last ninety days. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of a number of analyst reports. Mizuho set a $118.00 price target on Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Citigroup dropped their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Evercore ISI lifted their price objective on Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Finally, Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an “overweight” rating in a research note on Sunday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.58.

Prologis Trading Up 1.3%

NYSE PLD opened at $112.67 on Tuesday. The stock’s 50-day simple moving average is $111.94 and its two-hundred day simple moving average is $107.75. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.65. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $104.64 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.81 and a beta of 1.28.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business posted $1.34 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is 109.49%.

About Prologis

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.