Frank Rimerman Advisors LLC Sells 1,144 Shares of Prologis, Inc. $PLD

Frank Rimerman Advisors LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 15.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,340 shares of the real estate investment trust’s stock after selling 1,144 shares during the period. Frank Rimerman Advisors LLC’s holdings in Prologis were worth $666,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Prologis by 109.6% during the 1st quarter. J.W. Cole Advisors Inc. now owns 11,635 shares of the real estate investment trust’s stock worth $1,301,000 after buying an additional 6,083 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Prologis by 24.4% in the first quarter. GW&K Investment Management LLC now owns 596 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 117 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in Prologis by 23.5% in the first quarter. Crestwood Advisors Group LLC now owns 2,762 shares of the real estate investment trust’s stock valued at $309,000 after buying an additional 525 shares in the last quarter. Finally, Ignite Planners LLC grew its position in Prologis by 7.9% in the first quarter. Ignite Planners LLC now owns 2,774 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 204 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Transactions at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the sale, the director directly owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 owned 414 shares of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,000 shares of company stock valued at $3,013,665 over the last 90 days. 0.57% of the stock is owned by corporate insiders.

Prologis Price Performance

PLD stock opened at $122.46 on Thursday. The company has a fifty day moving average price of $119.81 and a 200-day moving average price of $112.18. The company has a market capitalization of $113.75 billion, a P/E ratio of 35.70, a PEG ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 52-week low of $85.35 and a 52-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.

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

Prologis Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on PLD shares. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price for the company in a report on Monday, October 20th. Wells Fargo & Company upped their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Evercore ISI increased their price objective on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Mizuho set a $118.00 target price on shares of Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Finally, UBS Group set a $133.00 target price on shares of Prologis in a research note on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.