Saturna Capital Corp Buys 625 Shares of Prologis, Inc. $PLD

Saturna Capital Corp increased its position in shares of Prologis, Inc. (NYSE:PLD) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,382 shares of the real estate investment trust’s stock after purchasing an additional 625 shares during the quarter. Saturna Capital Corp’s holdings in Prologis were worth $1,309,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PLD. Jump Financial LLC bought a new stake in Prologis during the 1st quarter worth approximately $2,120,000. Ally Financial Inc. raised its stake in shares of Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after acquiring an additional 4,000 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Prologis by 9.0% during the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after purchasing an additional 7,518 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Prologis in the first quarter worth $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc increased its holdings in Prologis by 14.3% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after purchasing an additional 8,470 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Up 0.3%

Shares of PLD stock opened at $123.88 on Wednesday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. The stock has a 50 day simple moving average of $119.58 and a two-hundred day simple moving average of $112.11. The company has a market cap of $115.07 billion, a P/E ratio of 36.12, a PEG ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $123.14, for a total transaction of $61,570.00. Following the transaction, the director owned 8,829 shares in the company, valued at approximately $1,087,203.06. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,000 shares of company stock valued at $3,013,665. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on PLD shares. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a report on Monday, October 20th. Truist Financial restated a “buy” rating and set a $131.00 price objective (up from $120.00) on shares of Prologis in a research report on Monday, October 20th. Barclays reduced their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. UBS Group set a $133.00 target price on shares of Prologis in a research report on Monday, November 10th. Finally, Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $125.39.

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.