Eventide Asset Management LLC Buys 148,999 Shares of Prologis, Inc. $PLD

Eventide Asset Management LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 278.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 202,448 shares of the real estate investment trust’s stock after buying an additional 148,999 shares during the quarter. Eventide Asset Management LLC’s holdings in Prologis were worth $21,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PLD. Norges Bank acquired a new stake in Prologis during the second quarter worth approximately $1,288,936,000. Franklin Resources Inc. increased its stake in shares of Prologis by 216.0% during the second quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock worth $1,056,545,000 after purchasing an additional 6,870,479 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock worth $1,113,994,000 after purchasing an additional 1,146,454 shares during the last quarter. State Street Corp lifted its holdings in Prologis by 1.9% during the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after purchasing an additional 1,088,544 shares during the last quarter. Finally, Strs Ohio bought a new stake in Prologis in the 1st quarter valued at $98,308,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the transaction, the director owned 8,208 shares in the company, valued at $1,047,340.80. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 1,621 shares of company stock valued at $198,655 over the last quarter. Company insiders own 0.57% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $130.18 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a market cap of $120.92 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 4.01 and a beta of 1.40. The company has a 50 day moving average of $124.36 and a 200-day moving average of $114.63. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $131.70.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.1%. Prologis’s dividend payout ratio (DPR) is 117.78%.

Analyst Ratings Changes

Several research analysts have weighed in on PLD shares. Mizuho increased their price objective on Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and raised their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. UBS Group set a $138.00 price objective on shares of Prologis in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prologis in a report on Monday. Finally, BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.88.

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.