Prudential PLC Boosts Position in Prologis, Inc. $PLD

Prudential PLC lifted its position in Prologis, Inc. (NYSE:PLD) by 231.2% in the second quarter, HoldingsChannel reports. The firm owned 67,710 shares of the real estate investment trust’s stock after buying an additional 47,265 shares during the period. Prudential PLC’s holdings in Prologis were worth $7,118,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. grew its stake in shares of Prologis by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock valued at $1,438,000 after buying an additional 93 shares during the period. Michael S. Ryan Inc. lifted its holdings in Prologis by 2.9% in the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock valued at $348,000 after acquiring an additional 94 shares during the last quarter. LaSalle St. Investment Advisors LLC grew its position in Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 96 shares during the period. Van Hulzen Asset Management LLC increased its stake in Prologis by 5.6% during the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock worth $201,000 after acquiring an additional 96 shares during the last quarter. Finally, Palogic Value Management L.P. increased its stake in Prologis by 4.7% during the second quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 96 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

NYSE PLD opened at $123.26 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. The company has a market cap of $114.49 billion, a P/E ratio of 35.93, a P/E/G ratio of 3.13 and a beta of 1.29. The stock has a 50-day moving average of $119.97 and a two-hundred day moving average of $112.26. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.05. The business 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%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

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

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the sale, the director directly owned 8,829 shares in the company, valued at approximately $1,087,203.06. This trade represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,000 shares of company stock worth $3,013,665 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLD. Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Scotiabank upped their target price on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. UBS Group set a $133.00 price target on shares of Prologis in a research report on Monday, November 10th. Evercore ISI boosted their price target 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. Finally, Wells Fargo & Company increased 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. Two equities 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. According to data from MarketBeat, the stock presently 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.